Finance

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FinanceInvestment salesNew JerseyNews

JLL Arranges Sale, Financing of 60,614-Square-Foot Retail Center in Northern New Jersey

by Abby Cox

Basking Ridge, N.J. — JLL Capital Markets has arranged the sale of Highlands Village Shopping Center, a 60,614-square-foot shopping center located within The Hills at Basking Ridge master-planned community in the Northern New Jersey city of Basking Ridge. Built in 2000 on roughly 11 acres, the center spans five buildings and was fully leased at the time of sale to 18 tenants. Anchored by Walgreens and a United States Postal Service, additional tenants include essential services, health and wellness, education, food-and-beverage and recreation-based businesses. Kevin O’Hearn, Jose Cruz, J.B. Bruno and …

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FinanceGeorgiaGrocery-anchoredNews

Cushman & Wakefield Arranges $72 Million in Financing for Two Shopping Centers in Metro Atlanta

by Abby Cox

Sandy Springs, Ga. — Cushman & Wakefield has arranged a $72 million loan on behalf of Jamestown for the refinancing of two adjacent retail centers located in the Atlanta suburb of Sandy Springs. Totaling more than 340,000 square feet, the properties include Parkside Shops (158,400 square feet) and Hammond Exchange (176,000 square feet). A 49,506-square-foot Whole Foods Market anchors the centers, which share a footprint of about 25 acres. Additional tenants include Marshalls, HomeGoods, Petco and The Springs Cinema & Taphouse. John Alascio, Alex Hernandez, Alex Lapidus, Mitch Rothstein, Nick Scibelli …

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DevelopmentFinanceNewsOhio

Associated Bank Provides $9 Million Loan for 12-Acre Retail Development Near Columbus, Ohio 

by Abby Cox

Delaware, Ohio — Associated Bank has provided a $9 million loan to GTZ Properties for the development of Trailhead Crossing, a 12-acre retail property located at 1335-1131 U.S. Route 36 in Delaware, a northern suburb of Columbus. The project consists of three buildings occupied by Chick-fil-A, Chipotle Mexican Grill and Take 5 Oil Change. A second, three-tenant strip center will be occupied by Dunkin’, Nothing Bundt Cakes and Pacific Dental Services. The project also contains two pad-ready sites, one of which is a pending sale to a national daycare company. …

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John Artope Florida retail demand
Content PartnersDevelopmentFeaturesFinanceFloridaIndustry ContentNet leaseRetailers

Growth-Minded Florida Drives Retail Expansion, Development, Investment

by Sarah Daniels

Florida’s focus on providing a friendly business and regulatory climate alongside its white sand beaches continues to fuel the state’s rising economic fortunes. Since 2022, Florida’s population has increased by more than one million, and job growth over the last five years has reached double digits in each of its five major markets, ranging from nearly 11 percent in Jacksonville to 18.3 percent in Orlando, reports SRS Real Estate Partners, a national commercial real estate advisory firm that has multiple offices throughout the state. Those dynamics are helping to drive …

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Springnex Plaza
FinanceGrocery-anchoredNew YorkNews

Northmarq Arranges $32 Million in Financing for Grocery-Anchored Retail Property in Queens

by Abby Cox

New York City — Northmarq has arranged $32 million in financing for Springnex Plaza, a 96,028-square-foot retail property located in the southeast Queens neighborhood of Springfield Gardens. Stop & Shop anchors the center, which features a mix of additional tenants such as Ashley Stewart, IHOP and Northwell Health. Robert Delitsky and Charles Cotsalas of Northmarq secured the loan through Principal Financial Group on behalf of the borrower, Mattone Group Springnex LLC.

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ColoradoFinanceNews

ABMAR Investments Receives $5.7 Million Loan for Refinancing of Union Square Shopping Center in Colorado Springs

by Abby Cox

Colorado Springs, Colo. — ABMAR Investments has received a $5.7 million loan for the refinancing of Union Square Shopping Center, a retail property located at 5035-5069 N. Academy Blvd. in Colorado Springs. Andrew Deaver, Rob Bova and Tom Gilliland of JLL Capital Markets arranged the three-year, floating-rate loan on behalf of ABMAR Investments, which will use a portion of the proceeds to fund upcoming improvements for tenant Crunch Fitness, along with additional capital expenditures. Built in 1978 and renovated in 2005, Union Square features 69,347 square feet of retail space …

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ArizonaFinanceNewsPower centers

CBRE Arranges $45.8 Million Loan for Refinancing of Scottsdale Towne Center

by Matthew Auchincloss

Scottsdale, Ariz. — CBRE has arranged a $45.8 million loan for the refinancing of Scottsdale Towne Center, a 168,090-square-foot power center located at 15444 N. Frank Lloyd Wright Blvd. in Scottsdale. The center is nearly 100 percent leased and is anchored by TJ Maxx, Ross and Mountainside Fitness and shadow-anchored by Target. Shaun Moothart, Bruce Francis, Doug Birrell, Bob Ybarra and Nick Santangelo of CBRE Capital Markets’ Debt and Structured Finance team secured a five-year, fixed-rate, full-term interest-only loan on behalf of the owner, who acquired the property in 2021. 

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whitestone-shopping-center
FinanceGrocery-anchoredNew YorkNews

Northmarq Arranges $75 Million Loan for Acquisition, Redevelopment of Grocery-Anchored Center in Queens

by Abby Cox

New York City — Northmarq has arranged a $75 million loan for the acquisition and redevelopment of Whitestone Shopping Center, a 119,584-square-foot shopping center located in the northern Whitestone neighborhood of Queens. According to Long Island Business News, BTF Whitestone LLC purchased the center for $56 million. Key Food Supermarket anchors the property, which was originally built in 1955. Additional tenants include Webster Bank and JPMorgan Chase. Robert Delitsky and Keith Braddish of Northmarq secured financing through Acadia Realty Trust on behalf of the borrower.

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FinanceGrocery-anchoredMarylandNews

Northmarq Arranges $50.8 Million in Financing for Grocery-Anchored Retail Property in Metro Washington, D.C.

by Abby Cox

Potomac, Md. — Northmarq has arranged $50.8 million in permanent, fixed-rate financing for Potomac Place Shopping Center, an 80,040-square-foot retail property located in Potomac, roughly 15 miles northwest of downtown Washington, D.C. Originally constructed in 1967, Potomac Place is anchored by Safeway and features a mix of additional tenants such as Chipotle Mexican Grill, Starbucks Coffee, Mathnasium, Rose Home Services, Walgreens, PNC Bank and East West Tae Kwon Do. Jason Smith and Kenneth Gentzel of Northmarq arranged the loan through Nationwide Life Insurance Co. on behalf of the borrower, Zuckerman Gravely.

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7-eleven
CaliforniaDevelopmentFinanceNews

HKS Real Estate Arranges $7.8 Million in Construction Financing for Two Retail Developments in California

by Abby Cox

Fresno and Clovis, Calif. — HKS Real Estate Advisors has arranged $7.8 million in construction financing for two ground-up retail developments in Fresno and Clovis. Alex Dobosh and Andrew Pilchick of HKS secured the loans through North American Savings Bank on behalf of the borrower, Bottom Line Group. A $4.3 million loan will fund the first project, which will be a 4,771-square-foot 7-Eleven convenience store and gas station located in Fresno. Meanwhile, a $3.4 million loan will fund the second project, an 11,353-square-foot, three-unit retail building in Clovis that will feature …

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