CBRE has successfully secured $21.12 million in financing for the mixed-use office and retail property located at 1420 Willow Ave. in Hoboken. The fixed-rate loan was provided by Lincoln Financial to the property’s owner.
The 42,205-square-foot property is strategically positioned in a rapidly developing section of Hoboken, benefiting from proximity to several large-scale redevelopment projects that bolster its long-term market value.
The building’s tenant base reflects a resilient, diverse mix:
- Office Space: The upper floors are primarily leased to tenants within the medical and healthcare sectors.
- Retail Space: The street-level retail component is anchored by well-known brands, including West Elm and the indoor rock-climbing facility, Gravity Vault.
The financing deal was facilitated by a robust CBRE team, including Matthew Pizzolato, Josh Stein, Carlos Silva, Jason Gaccione, Shawn Rosenthal, Jake Salkovitz, Justin Helbling, and Lauren Weinstein.
“Congratulations to our client on a successful refinancing of a terrific asset,” Matthew Pizzolato of CBRE said. “Lincoln ultimately stepped up with the most competitive terms, and we continue to see strong interest from lenders for well-located, mixed-use projects such as this with a diverse rent roll.”
The successful closing of this loan highlights the continued appetite from institutional lenders for well-situated, stabilized mixed-use assets in Northern New Jersey’s high-demand urban markets.
