Finance

Newport-Center
FinanceNewsRhode Island

Lee & Associates Arranges $5 Million in Financing for Acquisition of Retail Center Near Providence, Rhode Island

by Abby Cox

Rumford, R.I. — Lee & Associates has arranged a $5 million permanent first mortgage loan for the acquisition of a 13,000-square-foot retail center located at 75 Newport Ave. in Rumford, approximately four miles east of Providence. Kempner Properties purchased the center for $8.5 million. The seller was Horvath & Tremblay. Dave Carswell and Ryan Fitzpatrick of Lee & Associates secured the non-recourse loan through First Tech Federal Credit Union. The loan features a 30-year amortization schedule. Situated on nearly two acres, the retail property features a mix of tenants such as …

Continue Reading
0 FacebookTwitterLinkedinEmail
the-plaza-at-cape-may-court
FinanceGrocery-anchoredNew JerseyNews

Cronheim Arranges $21 Million in Financing for Grocery-Anchored Shopping Center Near Cape May, New Jersey

by Abby Cox

Cape May Court House, N.J. — Cronheim Mortgage has arranged $21 million in financing for the acquisition of The Plaza at Cape May Court House, a 163,629-square-foot shopping center located within Middle Township in Cape May County. Acme, which has operated at the property for 29 years, anchors the center. Built in 1971 and renovated in 2022, The Plaza at Cape May Court House is leased to 16 additional tenants including Starbucks Coffee, Staples, CVS/pharmacy, Jersey Mike’s Subs, Chase Bank and True Value Hardware. Brandon Szwalbenest, Dev Morris and Andrew …

Continue Reading
0 FacebookTwitterLinkedinEmail
Atlantic Plaza Shopping Center
FinanceNew YorkNews

Northmarq Arranges $15 Million in Financing for Atlantic Plaza Shopping Center in Queens

by Abby Cox

New York City — Northmarq has arranged $15 million to refinance Atlantic Plaza Shopping Center, a 34,949-square-foot, multi-tenant retail center located in Queens. Robert Delitsky and Keith Braddish of Northmarq secured the loan through an undisclosed commercial bank on behalf of the borrower, Schuckman Realty. Built in 1984, Atlantic Plaza Shopping Center is leased to a mix of daily-needs tenants including Bravo Supermarkets, Lenox Hill Radiology, Four Leaf Federal Credit Union and Dunkin’.

Continue Reading
0 FacebookTwitterLinkedinEmail
Creek-Bridge-Village-Salinas-California
CaliforniaFinanceNews

Gantry Arranges $15.4 Million in Financing for Two Retail Properties in Monterey Bay Region

by Abby Cox

Salinas and Capitola, Calif. — Gantry has arranged $15.4 million in permanent loans to refinance two separately owned neighborhood retail properties located at different ends of the Monterey Bay region. Tom Dao and Jake Davis of Gantry represented the borrowers, both private real estate investors. The first property, Creek Bridge Village in Salinas, features 35,000 square feet of retail space and 17 apartments spread across five buildings. The 10-year, fixed-rate nonrecourse loan was secured from one of Gantry’s correspondent life company lenders and features a 30-year amortization. Gantry will service …

Continue Reading
0 FacebookTwitterLinkedinEmail
Douglasville-Crossroads
FinanceGeorgiaNews

MMCC Arranges $5 Million in Financing for 42,720-Square-Foot Retail Property in Metro Atlanta

by Abby Cox

Douglasville, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged $5 million in financing for Douglasville Crossroads, a 42,720-square-foot retail property located in Douglasville, roughly 22 miles west of Atlanta. David Johnson of MMCC secured the seven-year, non-recourse loan through a national bank on behalf of a private client. Douglasville Crossroads was fully leased at the time of sale to tenants including Dollar Tree, Cato, It’s Fashion, H&R Block, a nail salon and furniture store, as well as several restaurants. Walmart and Sam’s Club shadow anchor the property.

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceGrocery-anchoredNew YorkNews

Northmarq Arranges $13.5 Million in Financing for Strathmore Commons Mall in Middle Island, New York

by Abby Cox

Middle Island, N.Y. — Northmarq has arranged $13.5 million in financing for Strathmore Commons Mall, a 146,381-square-foot, grocery-anchored retail center located in Middle Island, roughly 65 miles east of Manhattan. Originally built in 1991, Strathmore Commons Mall features a mix of tenants including McDonald’s, Giunta’s Meat Farms, NYU Langone Health, Gold’s Gym, Subway, Dollar Tree and Carvel. Robert Delitsky and Dylan Hamer of Northmarq arranged the financing through WoodmenLife on behalf of the borrower and repeat client.

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaFinanceNewsPower centers

Walker & Dunlop Arranges $46 Million in Refinancing for Power Center in Metro Los Angeles

by Abby Cox

Rosemead, Calif. — Walker & Dunlop has arranged a $46 million loan for the refinancing of Rosemead Place, a 336,718-square-foot power center located in Rosemead, roughly 12 miles east of downtown Los Angeles in the West San Gabriel Valley. Trevor Fase and Lynn Pearson of Walker & Dunlop secured the fixed-rate, interest-only permanent debt loan. Joel Minugh and James Ko of Wells Fargo provided the loan for the borrower, a family office. Rosemead Place features a mix of tenants including Target, LA Fitness, Ross Dress for Less, PetSmart, ULTA Beauty and …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentFinanceMichiganNews

Michigan Strategic Fund Approves $270.7 Million Plan for Redevelopment of Former Lakeside Mall

by Abby Cox

Sterling Heights, Mich. — Gov. Gretchen Whitmer and the Michigan Strategic Fund Board have approved a $270.7 million Transformational Brownfield Plan (TBP) to support the redevelopment of the former Lakeside Mall site in Sterling Heights. The proposed plan includes roughly 1,545 residential units across nine multifamily buildings ranging in size from four to five stories, including a building targeted at residents over 55 years of age. Additionally, the project will add 154,007 square feet of new retail space, a central community park and green space, as well as a mix …

Continue Reading
0 FacebookTwitterLinkedinEmail
Pavilion-on-Lovers-Lane
FinanceInvestment salesNewsTexas

Corrigan Investments Sells 113,823-Square-Foot Grocery-Anchored Center in Dallas

by Abby Cox

Dallas — Corrigan Investments has sold Pavilion on Lovers Lane, a 113,823-square-foot neighborhood center located in Dallas. Barry Brown, Erin Myer, Wally Reid, Kristi Leonard and Luke Rogers of JLL Capital Markets arranged the sale and acquisition financing in the transaction. The buyer was a Dallas-based real estate investment firm. This acquisition marks the first time the property has ever been offered on the market. Pavilion on Lovers Lane spans two buildings and was 99.7 percent leased at the time of sale to tenants including Eatzi’s, Odelay, Stay Fit Studios and La …

Continue Reading
0 FacebookTwitterLinkedinEmail
Barcroft-Plaza
FinanceGrocery-anchoredInvestment salesNewsVirginia

JLL Arranges $58 Million Sale, Acquisition Financing for Harris Teeter-Anchored Shopping Center Near Washington, D.C.

by Abby Cox

Falls Church, Va. — JLL Capital Markets has arranged the $58 million sale of Barcroft Plaza, a 113,173-square-foot shopping center located in Falls Church, roughly 10 miles west of Washington, D.C. Jordan Lex and Danny Naughton of JLL represented the seller, Federal Realty Investment Trust, in the transaction. Chris Knight and Evan Parker, also of JLL, secured the five-year, $35.9 million acquisition loan through Bank of America on behalf of the buyer, 11North Partners. Harris Teeter anchors Barcroft Plaza, which spans nearly 10 acres. Other tenants at the property include …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts