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Somerset Corporate Center Lands $32M Refi
A JLL Capital Markets team has completed the refinancing of the 310,000-square-foot Somerset Corporate Center IV in Bridgewater, NJ. JLL secured a $32.5-million loan from Sterling National Bank on behalf of owners SJP Properties and PGIM Real Estate.
“Somerset Corporate Center is widely known as the premier corporate headquarters location in Central New Jersey,” said JLL’s Jonathan Schwartz, who handled the debt assignment along with Aaron Appel and Brett Rosenberg. “The property is centrally located within one of the country’s strongest corridors for the pharmaceutical and technology sectors.”
Somerset Corporate Center IV is part of the master-planned Somerset Corporate Center in Bridgewater. The complex was constructed in 2001, and comprises five class A office buildings totaling 1.25 million square feet.
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- ◦Financing
