National Realty & Development Corp Secures $17.8M Loan For Old Colony Square In Jersey City

A fixed-rate loan of $17,800,000 has been arranged for a retail asset known as Old Colony Square, located at 420 Grand Street in Jersey City. This property spans 100,760 square feet and is fully leased, featuring tenants such as 99 Ranch Market, McDonald’s, Advance Auto Parts, and Dunkin’.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $17,800,000
• Address: 420 Grand Street
• Market: Jersey City
• Asset Size: 100,760 SF
• Landlord: National Realty & Development Corp
• Brokers: Brandon Szwalbenest, Andrew Stewart & Dev Morris - Cronheim Mortgage
• Loan Terms: Fixed-rate

Cronheim Mortgage facilitated the financing through an undisclosed life insurance company. The team composed of Brandon Szwalbenest, Andrew Stewart, and Dev Morris played a pivotal role in securing the loan, representing the interests of National Realty & Development Corp throughout this transaction.