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Finance

One-Paseo_San-Diego
CaliforniaDevelopmentFinanceMixed-useNews

Kilroy Realty Obtains $375 Million Loan for One Paseo Mixed-Use Campus in San Diego

by Hayden Spiess

San Diego — Kilroy Realty Corp. (NYSE: KRC), an office, mixed-use and life sciences REIT based in Los Angeles, has obtained a $375 million loan for a portion of One Paseo, a mixed-use campus in San Diego. New York Life Insurance Co. provided the 11-year, non-recourse loan, which features a fixed 5.9 percent interest rate. The loan matures in August 2034. The 36-acre property is situated between the city’s Carmel Valley neighborhood and Del Mar, as well as near I-5 and State Route 56. One Paseo is home to tenants including …

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FinanceInvestment salesMassachusettsNew YorkNews

Fantini & Gorga Secures $10 Million Acquisition Financing for Walgreens Portfolio

by Hayden Spiess

Needham, Mass. — Fantini & Gorga has secured $10 million in acquisition financing for a portfolio of four retail properties occupied by Walgreens. Three of the properties are located in Massachusetts, and the fourth is in New York. Casimir Groblewski and Colin Monahan of Fantini & Gorga arranged the debt through multiple banks on behalf of the borrower, Union Station LP, which acquired the portfolio in a 1031 exchange.

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Village-Center_Fountain-Valley-Calif
CaliforniaFinanceGrocery-anchoredNews

Gantry Secures $17 Million Refinancing for Retail Center in Fountain Valley, California

by Hayden Spiess

Fountain Valley, Calif. — Gantry has secured a $17 million permanent loan for the refinancing of Village Center, a 93,000-square-foot retail center located in Fountain Valley. Sprouts Farmers Market, Rite Aid and Dollar Tree anchor the property. Braden Turnbull, George Mitsanas and Austin Ridge of Gantry arranged the five-year, fixed-rate financing on behalf of the borrower, Paragon Commercial Group. 

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Red-Lobster_Fremont-Calif
CaliforniaFinanceInvestment salesNewsRestaurants

Marcus & Millichap Secures $4.6 Million Acquisition Financing for Single-Tenant Property in Fremont, California

by Hayden Spiess

Fremont, Calif. — Marcus & Millichap Capital Corp. has secured a $4.6 million loan for the acquisition of a single-tenant retail property located in Fremont. Ron Balys of Marcus & Millichap arranged the 10-year financing on behalf of the undisclosed borrower. Red Lobster occupies the property.

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Roselle-Commons_Roselle-N.J
FinanceGrocery-anchoredInvestment salesNew JerseyNews

Cronheim Mortgage Arranges $13.1 Million Acquisition Financing for Two Retail Centers in New Jersey

by Hayden Spiess

Elizabeth and Roselle, N.J. — Cronheim Mortgage has arranged a $13.1 million loan for the acquisition of two retail centers located in New Jersey. The first property, Color Plaza, comprises 49,309 square feet in Elizabeth. Tenants at the center, which was fully leased at the time of the transaction, include Seabras and CVS/pharmacy.  Developed in 2004, the second property is Roselle Commons in Roselle. The center was fully leased at the time of the transaction to tenants including Pep Boys, Green Grocer, Quest Diagnostics, GNC and T-Mobile.  Andrew Stewart, Dev Moris …

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DevelopmentFinanceGrocery-anchoredNew YorkNews

Eastern Union Secures $62.3 Million Construction Financing for Mixed-Use Development in New York City

by Hayden Spiess

New York City — Eastern Union has secured a $62.3 million loan for the construction of a mixed-use development in the Brooklyn borough of New York City. Upon completion, the property will total 105,000 square feet, including a 33,000-square-foot Lidl. The project will also feature an additional 12,000 square feet of retail space, 57 residential units, 12,000 square feet of office space and a 9,000-square-foot community facility. Abraham Bergman and Yossi Orzel of Eastern Union arranged the two-year, floating-rate financing through Invictus Real Estate Partners, Maxim Capital Group and Beach Point …

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Company newsFinanceNew JerseyNews

All 120 Buy Buy Baby Stores to Close

by Hayden Spiess

Union, N.J. — All 120 Buy Buy Baby stores will close following the bankruptcy of its parent company, Bed Bath & Beyond, reports CNBC. Bed Bath & Beyond, which filed for Chapter 11 bankruptcy in April, previously planned to sell the chain, with brand management firm Go Global Retail interested in acquiring Buy Buy Baby and continuing to run its stores. Instead, Dream on Me Industries has purchased the brand’s trademark and digital assets for $15.5 million. Buy Buy Baby’s website reports that though stores currently remain open, they have “made the difficult …

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Shoppes-at-Town-Square_Deer-Park-Texas
FinanceInvestment salesNewsTexas

Northmarq Arranges Sale of 11,692-Square-Foot Retail Strip Center in Metro Houston

by Hayden Spiess

Deer Park, Texas — Northmarq has brokered the sale of The Shoppes at Town Square, an 11,692-square-foot retail strip center in Deer Park, a suburb of Houston. The center was leased to five tenants at the time of sale. Riley Sharman of Northmarq represented the Florida-based seller in the deal. The buyer was a local 1031 exchange investor. Peters and Michael Borden of Northmarq arranged acquisition financing.

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FinanceNew YorkNews

Progress Capital Secures $42.5 Million Loan for Refinancing of Manhattan Retail Property

by Katie Sloan

New York City — Progress Capital has secured a $42.5 million loan for the refinancing of Bridgemarket, a 100,000-square-foot retail property located in Manhattan. Tenants at the property include Gustavino’s, T.J. Maxx, Ship Essentials and Trader Joe’s. Brad Domenico of Progress Capital arranged the loan on behalf of the borrower, MADD Equities, through an undisclosed lender. 

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Cotton-Mill-II_Washington-Utah
FinanceInvestment salesNewsUtah

Gantry Arranges $15.2 Acquisition Financing for Retail Center in Utah

by Hayden Spiess

Washington, Utah — Gantry has arranged a $15.2 million loan for the acquisition of Cotton Mill II, a retail center located in Washington, a suburb of St. George. Situated on 18.2 acres, the property comprises an inline shopping center and two outparcel ground leases totaling 165,000 square feet, with an additional pad that has capacity for a 15,000-square-foot multi-tenant inline building. Tenants at the center include Kohl’s, Natural Grocers, Ross Dress For Less, JOANN Fabrics, Dollar Tree, Red robin and Cache Valley Bank. Tony Kaufmann and Erinn Cooke of Gantry secured …

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