Bedminster Medical Plaza at 1 Robertson Drive in Bedminster — Courtesy: JLL
By Joshua Burd
The owner of a nearly 40,000-square-foot medical office building in Bedminster has refinanced the property for $8.1 million, under a newly announced transaction by JLL.
The brokerage team, which sourced the loan on behalf of DGLV Properties LLC, said National Life Group is providing the 10-year, fixed-rate financing for what’s known as Bedminster Medical Plaza at 1 Robertson Drive. The two-story, 38,925-square-foot building is 85 percent occupied by 13 tenants, housing services such as radiology, optometry, family and cosmetic dentistry, orthodontics and others.
“We are thrilled to have had the opportunity to represent the borrower in arranging long-term fixed rate financing with one of our correspondent life insurance companies,” said Max Custer, a director with JLL. “The building has been exceptionally maintained by the borrower since acquisition in 2012 and as a result there was a tremendous amount of interest among the lending community.”
The JLL debt advisory team included Senior Managing Director Jon Mikula, Custer and Analyst Salvatore Buzzerio. They noted that Bedminster Medical Plaza, which sits on 3.9 acres, is minutes from a host of area hospitals and residents by virtue of its quick access to interstates 78 and 287 and Route 202.
