Newlines Tower, a class-A office development in Lakewood, NJ, has secured $35 million in ground-up construction financing.
Located at 500 Boulevard of the Americas, the development project will encompass an eight-and-a-half-acre site and feature a six-story office tower spanning approximately 172,000 square feet. The completion of construction is expected by the third quarter of 2024. Additionally, the site will include two retail spaces, a warehouse, and a parking space.
Meridian Capital Group arranged the loan from a balance sheet lender through negotiations by Morris Betesh, Jacob Schmuckler, and Morris Dabbah. “Despite negative headlines about office performance on a national level, the Lakewood, NJ office market continues to show breakneck growth and resilience,” said Betesh.