NEW JERSEY—Livingston, N.J.-based Mark Scott’s Commercial Mortgage Capital (CMC) has closed a 25-year, $8.1 million self-liquidating refinance loan for a flex office/warehouse complex in South Brunswick.
The property, Stouts Lane Business Complex, includes three multi-tenanted, one-story modular industrial buildings containing 150,000 sq. ft. The first building, 45 Stouts Lane, contains 65,000 sq. ft. and is approximately 92 percent leased.
The second property, 49 Stouts Lane, contains 40,000 sq. ft. and is 100 percent leased to Metaverse, an Internet-based art gallery.
The third property, 51 Stouts Lane, comprises 45,000 sq. ft. and is currently 94 percent leased.