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Springfield, N.J. — JLL Capital Markets has arranged $14.1 million in financing for the acquisition of Springfield Plaza, a 72,120-square-foot retail center located in Springfield, about 20 miles west of New York City. Max Custer, Gerard Quinn and Matthew McManus of JLL arranged the fixed-rate loan through a regional bank on behalf of the borrower, Adoni Property Group.
Developed in 1980, Springfield Plaza was 97 percent leased at the time of sale to 17 national and regional tenants across food-and-beverage, education, government services, recreation and specialty retail uses. The 7-acre property includes three buildings and 313 parking spaces.