HFF arranges $31.5 million refinancing for Court Plaza North & South in Hackensack, NJ

  

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged a $31.5 million refinancing for Court Plaza North & South (top left photo), a 325,197-square-foot, Class A office complex in Hackensack, New Jersey.

HFF senior managing director Thomas Didio (middle right photo) and associate director Michael Lachs exclusively represented the borrower, Alfred Sanzari Enterprises.  John Hancock Real Estate Finance provided the 10-year, fixed-rate loan that refinanced the existing mortgage on the property.

Court Plaza North & South is located at 25 and 21 Main Street adjacent to the Bergen County Court House and the Bergen County Government facilities in Hackensack’s central business district, which is approximately 12 miles northwest of Midtown Manhattan and easily accessible from Routes 4 and 17 and Interstate 80.

 Court Plaza North consists of six stories of office space totaling 165,197 square feet and Court Plaza South is a three-story building totaling 160,000 square feet.  Both properties are located above a 1,073-space underground parking garage. 

The major tenants at the complex include the law firms: Cole Schotz Bernstein Meisel & Forman, Winnie Banta Hetherington Basralian & Khan PC, Herten Burstein Sheridan, and the accounting firm EisnerAmper.

“Court Plaza North & South is the highest quality ‘Class A’ office building located within walking distance of the courthouse and government facilities as evidenced by its exceptional tenant roster.  The property is extremely well maintained and provides tenants with an exceptional amenity package,” said Didio. 

“We are pleased to have provided the financing for the Sanzari Family on this quality asset.  John Hancock provided the borrower with a loan that featured an interest rate lock at application and that met the borrower’s business plan for the asset,” added Didio.

Founded in 1945, Alfred Sanzari Enterprises is one of New Jersey’s leading commercial real estate development organizations.  Headquartered at Court Plaza in Hackensack, New Jersey, Alfred Sanzari Enterprises owns and manages more than six million square feet of commercial, industrial, multifamily and mixed-use real estate assets in the northern New Jersey market. 

Contacts:

Thomas R. Didio, HFF Senior Managing Director, (973) 549-2000,

tdidio@hfflp.com

Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500,                           

krmurphy@hfflp.com