Permanent Loan - Acquisition
- Ground Lease
- Montclair, NJ
Axiom Capital Corp. has arranged $4,000,000 in permanent financing for the acquisition of a single tenant office building in Montclair, New Jersey. The Property is conveniently located within walking distance of the busy downtown of Montclair as well as two Montclair-Boonton Line train stations (Walnut Street & Bay Street).
he Property has been under a ground lease with the US Postal Service since 1966 when the US Postal Service constructed the 22,860 square foot +/- mixed use warehouse/distribution center/retail post office on the site. The property benefits from great demographics, with a population of 610,973 and an average household income of $116,766 within a 5-miles radius.