Listen to this article

JLL announced Wednesday it arranged acquisition financing for 180-188 Mount Airy Road – two office buildings and an ancillary structure totaling 104,202 square feet in Basking Ridge.

JLL worked on behalf of the borrower/buyer PAG Investments and CIG Properties to secure the seven-year, fixed-rate acquisition loan through TD Bank.

The property is comprised of two, two-story office buildings that feature moderate-sized floor plates catering to companies seeking 1,000 to 10,000 square feet of space, totaling 100,972 square feet, as well as a historic farmhouse/residence consisting of 3,230 square feet.

It is 98-percent leased to a diversified tenant roster that spans industries including law, financial services, education and medicine. Major tenants include Global Bankers Insurance Group; Microchip Technology; Precision System; Montgomery Academy; and The Learning Experience, an on-site daycare facility.

Positioned on 14.4 acres at the Mount Airy Road and Interstate 287 interchange, the properties have immediate access to many of the state’s primary commuter roadways, including Interstate 78 and Routes 202/206.

The JLL Capital Markets team representing the borrower was led by Managing Director Michael Klein.