Finance

Chapman-Market
CaliforniaEntertainmentFinanceNews

Northmarq Arranges $29.3 Million in Refinancing for Dining, Entertainment Center in Los Angeles

by Abby Cox

Los Angeles — Northmarq has arranged a $29.3 million loan to refinance Chapman Market, a 41,241-square-foot dining and entertainment center located in Los Angeles’ Koreatown neighborhood. Originally opened in 1928, Chapman Market is home to a mix of tenants including Club HUE, Quarters Korean BBQ, Starbucks, Origin Korean BBQ, Shibuyala, Toebang Café, Escala Ktown, Danbi, Tiger Sugar Boba, BHC Chicken, Kazunori: The Original Handroll Bar and Uncle Tetsu. Joe Giordani, Alex Kane and Karl Weidell of Northmarq secured the loan through Voya Investment Management on behalf of the borrower, Arc Capital Partners.

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Sundy-Village
DevelopmentFinanceFloridaMixed-useNews

Pebb Capital Receives $223 Million for Refinancing of Sundy Village in Delray Beach, Florida

by Abby Cox

Delray Beach, Fla. — Pebb Capital has received a $223 million loan for the refinancing of Sundy Village, a planned 7-acre mixed-use campus under development in downtown Delray Beach, located between Fort Lauderdale and West Palm Beach. The first phase of the project delivered 100,000 square feet of office space, 30,000 square feet of retail and dining, landscaped courtyards, indoor-outdoor gathering spaces, as well as 268 parking spaces. Tenants include Vertical Bridge, Industrious, Barcelona Wine Bar, Van Leeuwen Ice Cream, Double Knot, Drinking Pig BBQ, Maman, Dragonfly MRI, JTC and Fairstead Development, among others. The second phase will add a …

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Stanley-Marketplace
ColoradoFinanceInvestment salesNews

JLL Negotiates $41.2 Million Sale of Stanley Marketplace in Metro Denver

by Abby Cox

Aurora, Colo. — JLL Capital Markets has arranged the $41.2 million sale of Stanley Marketplace, a 102,125-square-foot adaptive reuse retail development located in the Denver suburb of Aurora. Jason Schmidt and Austin Snedden of JLL represented the seller, Westfield Co., in the transaction. Leon McBroom and William Haass, also of JLL, secured a five-year, $27.3 million acquisition loan through a reginal bank on behalf of the buyer, Magnetic Capital. Originally constructed in 1954 as an ejection seat manufacturing facility, the redeveloped retail property is currently 98 percent leased to a mix …

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Highlands-Village-Shopping-Center
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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Parkside-Shops_Sandy-Springs
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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