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SouthSide-Works-Pittsburgh
FinanceMixed-useNewsPennsylvania

JLL Arranges $74 Million Financing for Mixed-Use Property in Pittsburgh

by Hayden Spiess

Pittsburgh —JLL Capital Markets has secured $74 million in financing for SouthSide Works, a 471,939-square-foot mixed-use development located in Pittsburgh. Nick Unkovic and Jeremy Bernstein of JLL arranged the financing — in the form of a six-year, floating-rate loan — with Dollar Bank on behalf of the borrower, SomeraRoad. SouthSide comprises five buildings and features 245,570 square feet of office space and 226,369 square feet of retail space. Tenants at the development include Fred Rogers Productions, COhatch, General Dynamics, LA Fitness, Pins Mechanical, Speckled Egg and Common Place Coffee, 1:11 …

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Cedar-Hills-Crossing-Beaverton-Oregon
FinanceGrocery-anchoredNewsOregon

Gantry Arranges $61 Million Permanent Financing for Cedar Hills Crossing in Metro Portland

by Hayden Spiess

Beaverton, Ore. — Gantry has secured $61 million of permanent, long-term financing in the form of a 10-year loan for Cedar Hills Crossing, a 477,000-square-foot retail center located in Beaverton, seven miles outside of Portland. Blake Hering and Heather Kegler of Gantry arranged the financing, which featured a 12-month forward rate lock, on behalf of the borrower, C.E. John Company Inc. An undisclosed life company provided the loan. The shopping center is anchored by tenants including WinCo Foods, New Seasons Market, Ross Dress for Less, Office Depot and Best Buy …

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1300-E-Valley-Blvd-Alhambra-CA
CaliforniaFinanceInvestment salesNews

SBH Real Estate Group Sells Raising Cane’s-Occupied Property in Alhambra, California for $8.2 Million

by Hayden Spiess

Alhambra, Calif. — SBH Real Estate Group has completed the disposition of the ground lease for a single-tenant restaurant building located in Alhambra. A Southern California-based private investor acquired the asset for $8.2 million. Raising Cane’s Chicken Fingers occupies the 3,957-square-foot property, which is situated on 1.4 acres at 1300 E. Valley Blvd. The newly developed building features the restaurant’s latest prototype design and opened for business in June 2022. The property offers a double drive-thru and includes a 704-square-foot outdoor patio area. Matthew Mousavi and Patrick Luther of SRS …

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34th-Street-Retail-Lubbock-Texas
FinanceNewsTexas

Northmarq Arranges Bridge Financing for Two Retail Properties in Lubbock, Texas

by Hayden Spiess

Lubbock, Texas — Northmarq has secured fixed-rate bridge financing for two retail properties located in Lubbock. Poka Lambro Plaza, a 41,404-square-foot retail center located on University Avenue, comprises two buildings. The second property, a 42,152-square-foot shopping center named 34th Street Retail, is located on 34th Street. David Mott of Northmarq arranged the financing on behalf of the sponsor, NetCo Investments Inc.

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FinanceNewsOhio

Marcus & Millichap Arranges $1.9 Million Loan for Refinancing of CVS-Occupied Property in Canton, Ohio

by Hayden Spiess

Canton, Ohio — Marcus & Millichap Capital Corp. (MMCC) has arranged a $1.9 million loan for the refinancing of a 13,225-square-foot retail property occupied by CVS/pharmacy in Canton. The standalone building is located at 2210 W. Tuscarawas St. Christopher Marks of MMCC arranged the 10-year loan, which features a 4.5 percent interest rate, 30-year amortization schedule and 35 percent loan-to-value ratio.

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Shops-AMC-Palm-Promenade-San-Diego-CA
CaliforniaFinanceInvestment salesNews

Marcus & Millichap Arranges $13.1 Million Acquisition Financing for The Shops at AMC Palm Promenade in San Diego

by Hayden Spiess

San Diego — Marcus & Millichap Capital Corp. (MMCC) has arranged a $13.1 million loan for the acquisition of The Shops at AMC Palm Promenade, a retail power center located at 756-804 Dennery Road in San Diego. Chad O’Connor of MMCC San Diego secured the financing for the undisclosed borrower. The seven-year, fixed-rate loan has a 5.125 percent interest rate, 30-year amortization and a 60 percent loan-to-value ratio. The seller was not disclosed. Renovated in 2021, the 72,390-square-foot shopping center is located at the on/off ramp of Interstate 805 and …

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Bradford-Square_Publix_Cary
FinanceGrocery-anchoredInvestment salesNewsNorth Carolina

Northmarq Secures $21 Million in Acquisition Financing for Triangle Area Retail Center

by Hayden Spiess

Cary, N.C. — David Garfinkel of Northmarq’s St. Louis office has arranged $21 million in financing for the acquisition of Bradford Square, a 78,628-square-foot retail center located in the Raleigh suburb of Cary. Financing was secured in the form of a permanent-fixed loan from a life insurance company on behalf of National Real Estate Management (NRE). Anchored by Publix, the center was fully leased at the time of its sale to NRE, with tenants including Cary Salon, Night and Day Dental, First Watch, Brixx Wood Fired Pizza, Burger 21 and …

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Keystone-Crossing
FinanceFloridaGrocery-anchoredNews

Northmarq Arranges $4.5 Refinancing for Shopping Center in Metro Tampa

by Hayden Spiess

Odessa, Fla. — Tommy Ware of Northmarq has arranged $4.5 million in refinancing for Keystone Crossing Shopping Center, located in Odessa, approximately 25 miles north of Tampa. Built in 2001, the 47,817-square-foot grocery-anchored retail center sits on a six-acre property. This refinancing comes in the form of a permanent-fixed loan, secured through a life company lender.

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FinanceGrocery-anchoredNewsPennsylvania

Cronheim Mortgage Arranges $9 Million in Permanent Financing for Shopping Center in Metro Philadelphia

by Hayden Spiess

Quakertown, Pa. — Cronheim Mortgage has arranged $9 million in permanent financing for a 210,000-square-foot shopping center in Quakertown, located approximately 40 miles north of Philadelphia. Anchored by Giant, the unnamed center also houses tenants such as Rite Aid, Buffalo Wild Wings, H&R Block and Panera Bread. Allison Villamagna and Andrew Stewart of Cronheim Mortgage arranged the financing on behalf of the borrower, a subsidiary of New York City-based ADCO Group. An undisclosed life insurance company provided the loan.

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