23 Mack Drive in Edison — Courtesy: Cronheim Mortgage
By Joshua Burd
The owner of a nearly 360,000-square-foot industrial building in Edison has secured $16 million in financing, under a transaction arranged by Cronheim Mortgage.
In a news release, the mortgage banking firm said the State Life Insurance Co. is providing the 11-year loan for the property at 23 Mack Drive. The building is home to Romark Logistics, sitting on 19.76 acres and offering a location minutes from Interstate 287 and the New Jersey Turnpike.
Cronheim’s Dev Morris, Allison Villamagna and Andrew Stewart sourced the financing, noting that the firm serves as the mortgage correspondent and servicing agent for the lender.