Glen Mills, Pa. — Commercial real estate lender Holliday Fenoglio Fowler (HFF) has arranged $60 million in financing for Concordville Town Centre, a 397,188-square-foot, Home Depot- and Acme Markets-anchored retail center in Glen Mills, a Philadelphia suburb.
HFF worked on behalf of the borrower, Brandolini Companies, to secure the long-term, fixed-rate mortgage with an institutional insurance company. The loan will be used to repay existing indebtedness. Managing director Ryan Ade led the HFF team representing the borrower.
The 99.3 percent occupied Concordville Town Centre consists of 12 buildings and one pad site leased to Marshalls, HomeGoods, Staples, PetSmart, Wells Fargo Bank, Outback Steakhouse, Santander Bank and Bertucci’s along with anchors Home Depot and Acme Markets. Additionally, Target shadow-anchors the center. The property is situated on 69 acres at 101 Byers Drive at the convergence of Routes 1 and 322.