CBRE on Tuesday said it successfully arranged a $58 million refinancing package for 101 and 103 JFK Parkway, a two-building, 320,000-square-foot Class A office campus located in Short Hills.
The five-year, floating-rate loan was provided by an East Coast-based institutional real estate lender on behalf of the borrower, Columbia Pacific Advisors. The deal was orchestrated by Brad Zampa and Mike Walker of CBRE’s Debt & Structured Finance team in San Francisco.
The successful execution of the refinancing is seen as a positive indicator for the broader office sector, reflecting renewed liquidity and growing confidence, particularly as more companies enforce return-to-office mandates.
Brad Zampa, Executive Vice President at CBRE, stated that the borrower’s strategy was key to the transaction’s success. “This refinancing reflects renewed liquidity and growing confidence in the office sector as return-to-office mandates gain traction,” Zampa said. “The Sponsor’s reset basis, extensive experience in value-add assets and their significant capital commitment resulted in a successful execution, which will allow the Sponsor to further stabilize the asset.”
Zampa noted that CBRE ran a competitive financing process that attracted multiple bids from a cross section of lenders.
The campus boasts a strong occupancy rate of 95%, leased primarily to investment-grade tenants in professional and financial services.
The property’s appeal is bolstered by its extensive amenities, including:
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A fitness center with locker rooms and showers
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A yoga and meditation room
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A full-service cafeteria
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A private shuttle service to NJ Transit’s Summit Station
Strategically located across from The Mall at Short Hills, the campus offers immediate access to major highways and NJ Transit rail service. Furthermore, the surrounding neighborhood is highly affluent and educated, with average household incomes exceeding $250,000 and median home values above $1.6 million, underscoring the local market’s stability.
The transaction aligns with a trend noted by CBRE Research, which shows the CBRE Lending Momentum Index rising, fueled by higher loan origination volumes and larger deal sizes in the latter half of 2025.
