Finance

Overland-Crossing
FinanceGrocery-anchoredKansasNews

JLL Arranges $25.5 Million in Refinancing for 140,806-Square-Foot Grocery-Anchored Shopping Center in Suburban Kansas City

by Abby Cox

Overland Park, Kan. — JLL Capital Markets has arranged $25.5 million for the refinancing of Overland Crossing, a 140,806-square-foot grocery-anchored center located in the Kansas City suburb of Overland Park. Tenants at the center, which is 94 percent occupied, include a newly constructed Whole Foods, Burlington Coat Factory, Nordstrom Rack and Five Below. The property also features three pad sites. Overland Crossing previously underwent an expansion and redevelopment in 2021, which included the addition of Whole Foods Market. Chris Gandy, Tom Gilliland and Michael Nieder of JLL secured the three-year, floating-rate …

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Best-Buy_Brook-Highland-Plaza_Birmingham
AlabamaFinanceNewsPower centers

CBRE Arranges $57 Million in Refinancing for 422,337-Square-Foot Power Center in Birmingham, Alabama

by Abby Cox

Birmingham, Ala. — CBRE has arranged a $57 million loan for the refinancing of Brook Highland Plaza, a 422,337-square-foot power center located in Birmingham. Richard Henry, Mike Ryan, Brian Linnihan and Taylor Crowder of CBRE’s Debt & Structured Finance team in Atlanta arranged the loan through an undisclosed life insurance company on behalf of the borrower, First National Realty Partners. Brook Highland Plaza is situated on 52 acres and was 94.4 percent leased at the time of sale to tenants including Sprouts Farmers Market, Best Buy, Burlington, HomeGoods, Michaels, Shoe …

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Metroplex-Plaza
FinanceGrocery-anchoredNewsTexas

Gantry Arranges $10 Million in Refinancing for Metroplex Plaza in Irving, Texas

by Abby Cox

Irving, Texas — Gantry has arranged a $10 million permanent loan to refinance Metroplex Plaza, a 105,000-square-foot, grocery-anchored retail center located in Irving. Mark Ritchie and Austin Ridge of Gantry secured the 10-year, fixed-rate loan through one of Gantry’s life insurance lenders, which features a 30-year amortization schedule. Gantry will service the loan. Metroplex Plaza has recently completed a repositioning centered around the opening of a new Joe V’s Smart Shop location, an HEB low-price grocery store concept. Additional tenants at the property include a mix of restaurant and service-based …

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bjs-wholesale-club
FinanceFloridaNews

MMCC Arranges $7 Million in Financing for Single-Tenant Retail Property in Suburban Jacksonville

by Abby Cox

Orange Park, Fla. — Marcus & Millichap Capital Corp. (MMCC) has arranged $7 million in financing for a 109,895-square-foot single-tenant retail property in the Jacksonville suburb of Orange Park. BJ’s Wholesale Club occupies the building. Garrett Fierstein of MMCC secured the financing through a local credit union on behalf of a private client.

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Petco
ColoradoFinanceNews

Integra Real Estate Arranges $5.4 Million in Financing for Interplaza West Retail Center in Metro Denver

by Abby Cox

Golden, Colo. — New York-based Integra Real Estate Capital has arranged a $5.4 million loan for the financing of Interplaza West, a 31,675-square-foot retail center located in Golden, approximately 12 miles west of Denver. Russell Kimyagarov of Integra secured the financing through a credit union lender. Petco anchors Interplaza West, which is 90 percent leased. Additional tenants include Adio Health Center and Great Clips.

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GTZ-Properties
FinanceIllinoisNews

Associated Bank Provides $11.7 Million Construction Loan for Retail Center in Metro Chicago

by Abby Cox

Bannockburn, Ill. — Associated Bank has provided an $11.7 million loan to GTZ Properties for the development of a four-building, multi-tenant retail center on a vacant parcel in Bannockburn, approximately 30 miles north of Chicago. The 23,864-square-foot project is situated on a 5.3-acre corner lot adjacent to a Mariano’s grocery store and across the street from a Heinen’s grocery store. The development is 93 percent preleased with one space remaining. Signed leases include Wells Fargo Bank, Chipotle, Heart Certified Auto Care, Just Salad and a nail salon. The Gardner School …

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Plaza 44
FinanceGrocery-anchoredNew YorkNews

Basis Investment Group Provides $27.5 Million in Refinancing for Grocery-Anchored Shopping Center in Poughkeepsie, New York

by Abby Cox

Poughkeepsie, N.Y. — Basis Investment Group has provided a $27.5 million bridge loan to refinance the existing debt of Plaza 44, a 168,713-square-foot, grocery-anchored neighborhood shopping center located north of New York City in Poughkeepsie. Capstone Realty was the borrower. Stop & Shop anchors the property, which houses a mix of other tenants such as Ross Dress for Less, Dollar Tree and KeyBank, as well as additional local businesses. Capstone plans to renovate the center and market the property for sale in the next two years. 

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Market Meadows
FinanceGrocery-anchoredIllinoisNews

JLL Arranges $27.3 Million in Financing for Market Meadows in Metro Chicago

by Abby Cox

Naperville, Ill. — JLL Capital Markets has arranged $27.3 million in financing for the acquisition of Market Meadows, a 149,185-square-foot shopping center located in Naperville, approximately 28 miles west of Chicago. Jewel-Osco anchors the property, which was 98.3 percent leased at the time of sale. Additional tenants include U.S. Bank, BMO Bank, T-Mobile, Chipotle Mexican Grill, Jersey Mike’s and McDonald’s. Chris Drew, Travis Anderson, Chris Knight, Wells Waller and Merrick Evans arranged the seven-year, fixed-rate loan through Principal Asset Management on behalf of the borrower, Barings. Rick Drogosz and Eric Geskermann of Mid-America Real …

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Morganton Park South
FinanceIowaNewsNorth Carolina

BWE Arranges $49.5 Million Refinancing for Two Shopping Centers

by Abby Cox

Southern Pines, N.C. and Cedar Falls, Iowa — BWE has arranged $49.5 million for the refinancing of two shopping centers totaling 414,680 square feet located in North Carolina and Iowa. Dan Rosenberg, Logan Petersmeyer and Isabella Barrios of BWE secured the financings on behalf of Cincinnati, Ohio-based Midland Atlantic Properties. Both non-recourse loans feature competitive interest rates and multiple years of interest-only payments. The first property, Viking Plaza Drive in Cedar Falls, Iowa, is a 147,659-square-foot shopping center leased to Scheel’s, Michaels, Old Navy and Ulta Beauty. The second property, Morganton …

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Company newsFinanceNews

Big V Property Group, Equity Street Capital Launch $1.2 Billion Retail Property Fund

by Abby Cox

Charlotte, N.C. — Charlotte, North Carolina-based Big V Property has partnered with Equity Street Capital to launch the Big V Core Property Fund, a $1.2 billion open-ended retail real estate fund. The fund, which was created by consolidating seven retail properties into a single investment vehicle, spans six cities and is 96 percent leased. The properties include The Rim and Alamo Ranch in San Antonio; The Avenue Murfreesboro in Murfreesboro, Tennessee; Southpark Meadows in Austin, Texas; Glynn Isles in Brunswick, Georgia; Westside Center in Huntsville, Alabama; and Glade Parks in Euless, …

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