One Ronson Road in the Iselin section of Woodbridge — Courtesy: NAI James E. Hanson
By Joshua Burd
The owner of a 122,643-square-foot retail complex with national tenants in Woodbridge has refinanced the property for $25.5 million, following a deal arranged by NAI James E. Hanson.
The brokerage said Tuesday that Greg James, its director of capital markets, worked on behalf of BRM Parkway Center in the deal at One Ronson Road. The transaction allowed the borrower to take advantage of a favorable financing environment and lock in a lower, attractive 10-year rate.
Parkway Center, which sits on more than 8.5 acres in the township’s Iselin section, includes Marshall’s, Bed, Bath & Beyond and DSW Shoe Warehouse as its tenants. The property is located along Route 1 South and provides direct access to the Garden State Parkway, with proximity to both the Woodbridge Center Mall and Menlo Park Mall.
In a news release, NAI Hanson also noted that James has helped orchestrate sales and refinancing deals in Arkansas, Texas, California, Connecticut and Kentucky. They have ranged in size from 13,000 square-feet to over 300,000 square-feet.
“NAI Hanson would not be able to maintain our high volume of business without employees like Greg who are instrumental to that success,” Bill Hanson, president of the Hackensack-based brokerage, said in a prepared statement. “His integrity, innovation and commitment to our capital partners and customers has allowed us to maintain relationships with the best financial institutions to offer our clients superior service and value.”