NEW JERSEY—NorthMarq Capital’s New Jersey office has brokered a $10 million off-market sale and arranged $5.5 million in financing for the acquisition of 2-4 Mill Ridge Lane in Chester, N.J.
The property, a single-tenant office building, serves as the North American headquarters for the French’s Mustard division of Reckitt Benckiser.
“The seller originally approached NorthMarq to assist him with the refinancing of this asset,” said Greg Nalbandian, senior vice president. “Given the reality that the property was overleveraged with only six years remaining on the lease to this S&P “A” rated tenant, we advised the seller that we could execute a very aggressive sale with one of our institutional clients who specializes in acquiring single-tenant net-leased buildings to credit tenants.”
