BASKING RIDGE, NJ – Andrew Stewart and Dev Morris have arranged $11,000,000 in financing for 100 Marketplace, a retail/office complex in Basking Ridge, New Jersey. The loan has a 15 year term with a 30 year amortization. Cronheim acts as loan servicer and correspondent for this loan.

The subject property, completed in 2008, was 70% pre-leased and 17% occupied at the time of closing. The property was able to achieve stabilized occupancy within 6 months of closing and is now 97% leased. There are 268 parking spaces, including 187 surface spaces and an 81-car parking garage. Major retail tenants include Wachovia Bank, Panera Bread, and Origins Restaurant, while a medical day spa has leased 12,000 square feet on the 2^nd floor.  The Subject’s exterior is comprised of brick set on top of a cast stone base. The building also includes premium finishes throughout, such as copper roofing, metal sunshades, fabric awnings, and composite signs.

The subject property is located on Mountainview Boulevard, the area’s main commercial and retail corridor, in Basking Ridge, Somerset County, New Jersey. The Subject enjoys an excellent location just off of Exit 33 on I-78, the state’s most prominent east/west thoroughfare, running through central/northern New Jersey, and is less than ¼ mile from the world renowned Memorial Sloan Kettering Cancer Center.