2495 Brunswick Pike (Lawrence Shopping Center), Lawrenceville, NJ
December 2021: Bryan J. Houlihan and James J. Houlihan of Houlihan-Parnes Realtors, LLC, are pleased to announce the placement of a first mortgage in the amount of $22,750,000 on the property located at 2495 Brunswick Pike in Lawrenceville, New Jersey. The 393,430 square foot property was acquired by in December 2016 and has seen substantial leasing success and renovations under its new ownership.
Houlihan-Parnes was able to negotiate a fixed rate loan of 3.625% for a term of 5 years with the with first 12 months Interest Only. The borrower also has the option to extend the loan for an additional 5 years. Since 2020 the owners have been able to lease close to 80,000sf in retail space to tenants such as, Lidl, Starbucks, AutoZone, Five Below, and Aspen Dental. The borrower was represented by Elizabeth Smith of Goldberg Weprin Finkel Goldstein, LLP. Title was insured First American Title Agency.
The property is owned by Samuel Jemal of JJ Operating, Inc., and members of the Jemal family, together with James J. Houlihan and members of Houlihan-Parnes. The property is one of many large successful renovation projects for the Houlihan and Jemal families, who have partnered together on various deals across the New York metropolitan area for three generations since the mid-1980s.