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HFF arranges financing for spec industrial project in Newark

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Rendering of the facility announced for 256 Vanderpool St., Newark.
Rendering of the facility announced for 256 Vanderpool St., Newark. - ()

Commercial real estate firm Holliday Fenoglio Fowler announced it has arranged $16.2 million in financing for the development of a 290,063-square-foot industrial building in Newark.

HFF’s Michael Klein and Matthew Pizzolato represented a partnership of Pennwood Real Estate Investment Management, Pennwood Select Industrial partners and Penford Group.

Financing was provided by Principal Real Estate Investors.

The industrial facility will be situated on 14.85 acres at 256 Vanderpool St. The site has immediate access to the New York City metro area via I-78 and other highways. Port Elizabeth and Newark Liberty International are also proximal to the development.

Pennwood said the facility will feature 50-foot clear heights, 64 loading docks, 79 trailer stalls and 8,702 square feet of office space.

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Mario Marroquin

Mario Marroquin

Mario Marroquin covers real estate. A native of El Salvador, Mario is bilingual in English and Spanish. He graduated from Penn State University and worked in Pennsylvania before moving to New Jersey. His email is mariom@njbiz.com.

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