$7M Loan Redo Set for Tech Park

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MAHWAH, NJ-A nearly $7.43-million loan modification has been closed for borrower EWE Warehouse Investments IX Ltd., secured by the investment fund’s 92,000-sf Mahwah Technical Park II. The funding was arranged by Martin Klebanoff, senior vice president and co-managing director of the Northern New Jersey regional office of NorthMarq Capital Inc., and Jeffrey Robertson, SVP and managing director of the firm’s Miami regional office.

The financing was based on a nine-year, eight-month term with a 30-year amortization schedule. It was arranged via NorthMarq’s correspondent relationship with Allstate Investments LLC.

The industrial/flex property at 10 Industrial Ave. is made up of 50,000 sf of office space and 42,000 sf of industrial space. Major tenants at the site include Polytype America Corp., Janome America Inc. and New Concept Press Inc.