10 Senate Place

Location: Jersey City, NJ
Type: Industrial
Price: $ 8,925,000

SMC has provided an $8,925,000 first mortgage loan secured by 10 Senate Place, a two-story warehouse building located at 10 Senate Place, Jersey City, NJ. The Property contains 195,000 SF, and is located on a slope, providing each floor loading and drive-in capabilities. The Loan is 100% leased to Moishe’s Self-Storage through December 2027. The sponsor purchased the Property in September 2012 and proceeds of the loan were used to leverage the property and to provide funds for future capital expenditures.