—Habitat for Humanity has relocated its ReStore to 28,000 sq. ft. of space to 274 South Salem Street in Randolph, N.J.
Approximately 8,000 sq. ft. larger than its previous space in Mine Hill, ReStore sells new and gently used building materials and household goods. Its new location at 274 South Salem Street also houses Habitat for Humanity offices and the organization’sdepartment.
Procida Funding provided a $2.35 million bridge loan through its 100 Mile Fund that enabled the property’s owner, South Salem Associates, to take possession of the building and move Habitat for Humanity’s ReStore in.
Focused on $2M to $10M loans, Procida’s 100 Mile Fund invests in projects within 100 miles of the company’s Englewood Cliffs headquarters. The fund anticipates completing $100 million in bridge and rescue loans through the close of 2012.