Jones Lang LaSalle

$10M Funding Set for Shopping Center
By Eric Peterson
Last updated: February 6, 2006 09:45am

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FLORHAM PARK, NJ-A $9.84-million financing package has been arranged for Klein's Associates for the acquisition and renovation of Florham Park Plaza, a 48,479-sf shopping center here. The deal was arranged on behalf of Klein's Associates by senior managing director Jon Mikula and managing director Jim Cadranell of the local office of Holliday Fenoglio Fowler. The fixed-rate loan was placed with Principal Global Investors. The seller of the property was not identified.

The single-story Florham Park Plaza on 6.55 acres includes an outparcel and is currently 75% occupied. The property's tenants include Dunkin' Donuts, Baskin Robbins, McDonald's Dress Barn and Marty's Shoes. An adjacent, separately owned Kings Supermarket serves as a shadow anchor for the center.

King's Associates is a locally based real estate investment firm that owns shopping centers and other retail properties. Among its holdings, it also operates a string of Hallmark stores.