HFF arranges $36.7M financing for Secaucus property

Holliday Fenoglio Fowler L.P. has arranged $36.7 million in permanent financing for a Secaucus industrial facility, it said Wednesday.

The real estate firm placed a 15-year fixed-rate loan with Allianz Real Estate of America on behalf of the borrower, Bhasin Properties. The site in question is a two-building facility totaling 240,317 square feet at One County Road.

Jon Mikula, senior managing director, led the HFF debt placement team.

“One County Road is an example of the tremendous demand for industrial space in the Meadowlands,” he said in a prepared statement. “Over the course of the lease-up, rents grew almost 30 percent.”