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NorthPark Center
FinanceInvestment salesNewsTexas

JLL Arranges $1.2 Billion Refinancing for NorthPark Center in Dallas

by Abby Cox

Dallas — JLL Capital Markets has arranged $1.2 billion loan for the refinancing of NorthPark Center, a 1.9 million-square-foot super-regional shopping center located in Dallas. Originally developed in 1965, NorthPark Center features more than 190 tenants including Neiman Marcus, Nordstrom, Macy’s, Dillard’s and Eataly, as well as a 15-screen AMC theater. The property is currently 98.6 percent leased. Timothy Joyce, Trey Morsbach and Matt Maksymec of JLL’s Debt Advisory team arranged the financing on behalf of the borrower, NorthPark Management Co. Wells Fargo, Morgan Stanley and Goldman Sachs provided the loan. The new loan will pay …

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Tamarac Town Square
FinanceFloridaGrocery-anchoredNews

JLL Arranges $57.5 Million in Financing for Two Publix-Anchored Shopping Centers in South Florida

by Abby Cox

Miami Gardens and Tamarac, Fla. — JLL Capital Markets has arranged a combined $57.5 million in financing for two Publix-anchored shopping centers in South Florida. Matt Casey, Paul Adams, Hunter Rich and Aaliyah St. Louis of JLL’s Debt Advisory team arranged the loans through Synovus Bank on behalf of the borrower, Atlanta-based Jamestown. The first property, Country Club Plaza in Miami Gardens, totals 100,893 square feet and is leased to tenants including CVS and Panera Bread. Cypress Commons — formerly known as Tamarac Town Square — is the second property, which …

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Brookleigh Marketplace
FinanceNewsTexas

Crow Holdings Closes Recapitalization of 194-Property National Retail Portfolio

by Abby Cox

Dallas — Dallas-based Crow Holdings has recapitalized a portfolio of 194 retail properties totaling 4.5 million square feet. Crow Holdings Capital (CHC), the firm’s investment management business, arranged the financing. Spanning 30 states, the portfolio is currently 93 percent leased and features approximately 2,000 tenant suites with an average size of roughly 2,250 square feet. This transaction builds on the joint venture CHC had previously formed to acquire small-format, convenience-oriented, open-air, food and service shopping centers. Since 2003, the joint venture has acquired over $220 million in additional properties.

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Hales Corner
FinanceNewsWisconsin

MMCC Secures $8 Million in Financing for Retail Center in Suburban Milwaukee

by Abby Cox

Hales Corners, Wis. — Marcus & Millichap Capital Corp. (MMCC) has secured an $8 million loan for Hales Corners Plaza, a 94,207-square-foot retail center in the Milwaukee suburb of Hales Corners. The property is fully leased to tenants such as Great Clips, AT&T, a nail salon and a physical therapy clinic. Michael Hughes of MMCC arranged the financing on behalf of the private client. A credit union provided the five-year loan, which features a 75 percent loan-to-value ratio, 6 percent interest rate and 30-year amortization period.

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PSRS-Retail-San-Diego-CA
CaliforniaFinanceNews

PSRS Arranges $6.7 Million Refinancing for Retail Center in San Diego

by Abby Cox

San Diego — PSRS has arranged $6.7 million in refinancing for a 65,000-square-foot shopping center located in San Diego. The two-building multi-tenant property is occupied by Smart & Final, AutoZone and Big 5 Sporting Goods. Additionally, Burger King occupies a drive-thru restaurant pad site on a ground lease. Trevan Swierczewski and Alexander Santulis of PSRS secured the nonrecourse loan that was structured with a 15-year term and 15-year amortization.

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Sugar Park Plaza
FinanceInvestment salesNewsTexas

JLL Arranges Sale, Financing for 95,032-Square-Foot Sugar Park Plaza in Houston

by Abby Cox

Houston ­— JLL has arranged the sale and financing of Sugar Park Plaza, a 95,032-square-foot neighborhood retail center located in Houston. Renovated in 2016, Sugar Park Plaza features one in-line retail building and three pad sites. Marshalls anchors the center, which was fully leased at the time of sale, and includes a mix of 15 other tenants including Aga’s Restaurant & Catering, Skechers, Chase Bank, ExxonMobil and Magnum Staffing. Sugar Park Plaza was built in 1974 on nearly 30 acres. John Indelli and Ryan West of JLL represented the seller …

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Bernal Plaza
CaliforniaFinanceGrocery-anchoredNews

BISON Partners, PCCP Receive $29 Million in Financing for Bernal Plaza Shopping Center in San Jose, California

by Abby Cox

San Jose, Calif. — A joint venture between Southern California-based BISON Partners and PCCP has received $29 million in financing for the acquisition of Bernal Plaza, a 139,559-square-foot open-air retail center in San Jose. Lucky Supermarket anchors Bernal Plaza, which was 94 percent leased at the time of sale. Other tenants at the property include Ross Dress for Less, Staples, American Barbell Clubs, Starbucks Coffee, McDonald’s, Shell and Nick the Greek. Built in 1999, Bernal Plaza spans roughly 16 acres. Alex Olson, Todd Sugimoto, Lauren Sackler and Danny Ryan of …

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Whitney Ranch
CaliforniaDevelopmentFinanceNews

JLL Arranges $27 Million Construction Loan for 52,200-Square-Foot Retail Center Near Sacramento, California

by Abby Cox

Rocklin, Calif. — JLL Capital Markets has arranged a $27 million construction loan for the development of a 52,200-square-foot neighborhood retail center situated within the master-planned community of Whitney Ranch, roughly 22 miles northeast of Sacramento. Dubbed Whitney Ranch Retail Center, the property will include 35,000 square feet of in-line and standalone retail space, as well as five pad sites totaling 17,200 square feet. Additionally, a 43,000-square-foot Nugget Markets grocer will shadow anchor the retail center. Whitney Ranch Retail Center is currently 60 percent preleased to local, regional and national …

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Architecture and DesignDevelopmentEconomic DevelopmentEntertainmentFeaturesFinanceLeasingMixed-usePower centersRetailersVideosWebinar

Webinar: From Roadblocks to Results: Making Mixed-Use Work in Today’s Market

by Sarah Daniels

The September 17 Shopping Center Business webinar “From Roadblocks to Results: Making Mixed-Use Work in Today’s Market,” hosted by Shopping Center Business and sponsored by KTGY, focused on some of the most dynamic and challenging sectors of retail real estate today: mixed-use developments.  The panelists covered strategies to make these projects work, including the importance of early stakeholder engagement, working with property owners, municipal leaders and community members, as well as ensuring that projects align with local needs and long-term visions.  These retail experts also discussed these key topics and more: Watch this brief webinar …

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Cheyenne Point Plaza
FinanceNevadaNews

RA Centers Arranges $20 Million in Financing for Cheyenne Point Plaza in Las Vegas

by Abby Cox

Las Vegas — RA Centers has arranged $20 million in financing for Cheyenne Point Plaza, a 111,809-square-foot neighborhood center located in Las Vegas. Mariana’s Supermarkets anchors the center, which is fully leased. Other tenants include Dollar General, Intermountain Healthcare, Taco Bell, Panda Express and Subway. Raymond Arjmand and Nader Arjmand of RA secured the financing through JP Morgan.

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