Meridian Center II at 4 Industrial Way West in Eatontown — Courtesy: JLL
By Joshua Burd
The owner of an office building in Monmouth County has refinanced the property for $9 million, under a newly announced transaction by JLL.
Brokers with the firm represented The Donato Group, the borrower and owner of 4 Industrial Way West in Eatontown, to secure the loan for what’s known as Meridian Center II. TIAA Bank provided the financing, JLL said, noting that the landlord has made significant improvements to the 80,188-square-foot building in recent years, including refreshes to the lobby, hallways and restroom areas.
JLL Senior Managing Director Michael Klein, Director Max Custer and Analyst Gerard Quinn led the assignment for the firm’s capital markets team.
“We are grateful for the opportunity to represent The Donato Group once again,” Klein said. “TIAA provided the borrower with very attractive deal terms and a highly competitive rate.”
Sitting on 4.6 acres, Meridian Center II is currently 92 percent occupied by a mix of technology, defense and health care-related tenants, including Hackensack Meridian Health, Wayside Technology Group and Altair Health, according to a news release. The building, which was constructed in 1988, is part of the 2.3 million-square-foot Eatontown Business Park that is minutes from Route 35, the Garden State Parkway and other thoroughfares.