Glenpointe buildings secure $32M refinancing

JLL Capital Markets arranged a $32 million refinancing for Glenpointe Centre East and the Atrium at Glenpointe on behalf of Alfred Sanzari Enterprises Inc.

On Aug. 11, JLL said it secured the 10-year, fixed-rate loan through Securian Asset Management, which originated the funds on behalf of the lender, Minnesota Life Insurance Co.

Located at 300-400 Frank W. Burr Blvd. in Teaneck, together the pair of Class A office buildings total 320,000 square feet. With immediate access to Interstates 80 and 95, the properties are part of the 670,000-square-foot Glenpointe corporate campus.

Originally built in 1982, according to JLL Glenpointe East and the Atrium at Glenpointe are 94.5% occupied.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Thomas Didio, Senior Director Thomas Didio Jr. and Analyst Salvatore Buzzerio.

“JLL was pleased to assist the borrower in securing permanent financing from Securian Asset Management for the refinancing of Glenpointe Centre East and the Atrium at Glenpointe,” the younger Didio said in a statement. “Securian recognized the strength of the Class A suburban office assets and the exceptional local demographics and transportation infrastructure, and provided competitive financing terms for a strong borrower in a volatile capital markets environment.”

Hackensack-based Alfred Sanzari announced Moroch Partners Inc. renewed its lease for office space at the Atrium at Glenpointe in March.