Finance

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FinanceInvestment salesNewsTexas

JLL Arranges Acquisition Financing for Centers Totaling 14,081 Square Feet in Central Texas

by Hayden Spiess

Austin, Texas and San Antonio— JLL Capital Markets has secured acquisition financing for two retail centers, both in Texas. CW Sheehan, Kaitlin Kane and Hunt Wood of JLL arranged the five-year, fixed-rate loan on behalf of the borrower, Door Capital Partners. The first property, 3701 Guadalupe, comprises 6,991 square feet in Austin in the center of off-campus University of Texas student housing. Built in 1976, the center was 100 percent leased at the time of sale to tenants including Domino’s, Walgreens, Smile Haus, Body Brite and Evo Performance. The second …

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FinanceNew JerseyNews

Cronheim Mortgage Arranges $11.5 Million Permanent Loan for Northern New Jersey Shopping Center

by Hayden Spiess

Belleville, N.J. — Cronheim Mortgage has arranged an $11.5 million permanent loan for a 70,450-square-foot shopping center in the Northern New Jersey community of Belleville. Grocer ShopRite anchors the center. Allison Villamagna and Andrew Stewart placed the 12-year loan through Farm Bureau Life Insurance Co. on behalf of the undisclosed borrower.

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Don MacLellan Seller Buyer Retail Motivation
Content PartnersDevelopmentEconomic DevelopmentFaris Lee InvestmentsFinanceIndustry ContentInvestment sales

Key Variable Moving Forward in Today’s Market? Motivation from Both Sides

by Sarah Daniels

Motivation is one of the prime drivers in any market cycle. Some markets are affected by interest rates and others by inflation. One way or another, however, a retail investment and its returns need to provide an investor a reason to stay active regardless of the state of the market. Scott DeYoung, senior managing director at Irvine, Calif.-based Faris Lee Investments, notes that for sellers in today’s market, it can all come down to timing. “There will always be transactions because every investment has a horizon,” he explains. “There is …

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ColoradoFinanceNews

Shopping Center in Suburban Denver Secures $28.9 Million Refinancing

by Hayden Spiess

Northglenn, Colo. — JLL Capital Markets has arranged the $28.9 million refinancing of Northglenn Marketplace, a shopping center located in Northglenn, a suburb of Denver. Eric Tupler and Rob Bova of JLL represented the borrower, a joint venture managed by Hutensky Capital Partners, and secured a five-year, floating-rate loan through HTLF. Lowe’s anchors the center, which is also leased to tenants including JOANN Fabric and Crafts, Ross Dress for Less, PetSmart, Woodley’s, Office Depot, Painted Tree Boutiques, dd’s Discounts, Five Below, K&G and Cinzetti’s.

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FinanceGrocery-anchoredKentuckyNews

Cronheim Originates $8 Million Loan for Kroger-Anchored Shopping Center in Lexington, Kentucky

by Hayden Spiess

Lexington, Ky. — Cronheim Mortgage has originated an $8 million permanent loan for Man O’ War Place, a 174,638-square-foot shopping center in Lexington. Dev Morris and Andrew Stewart of Cronheim arranged the financing through American United Life Insurance Co. on behalf of the borrower, an affiliate of Equity Management. Situated about four miles south of the University of Kentucky, Man O’ War Place was 95 percent leased at the time of sale to tenants including Kroger Marketplace, Feeders Supply, Lexington Urgent Care, Hooters, Edible Arrangements, Bright Tiger Dental, The Little …

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CaliforniaDevelopmentFinanceNewsRestaurants

Parkview Financial Provides $35 Million Construction Financing for 42-Acre West Harbor Retail Project in Los Angeles

by Hayden Spiess

Los Angeles — Parkview Financial has provided a $35 million senior construction loan to a venture between Ratkovich Co. and Jerico Development for the development of West Harbor, a retail center along the Los Angeles waterfront in the San Pedro neighborhood. The financing from Parkview is in addition to $55 million of Commercial Property Assessed Clean Energy financing, as well as $85 million of investor equity. Situated on 42 acres at 1200 Nagoya Way, West Harbor will feature more than 125,460 square feet of multi-tenant retail space. Scheduled for completion …

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DevelopmentFinanceLouisianaNews

Schelin Uldricks Secures $13.9 Million Construction Loan for Shopping Center in Lake Charles, Louisiana

by Hayden Spiess

Lake Charles, La. — Schelin Uldricks & Co. has arranged $13.9 million in financing for the redevelopment of University Plaza, a grocery-anchored shopping center located at the corner of Ryan Street and Sale Road in the southeast Louisiana city of Lake Charles. Financing will enable the renovation of portions of the property that experienced hurricane damage in 2020. When finished, the retail center will span 203,965 square feet. An undisclosed regional bank provided the loan. The property is currently leased to a mix of tenants that include a fitness center, …

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CaliforniaFinanceNews

iBorrow Provides $15 Million Refinancing for Santa Clarita Shopping Center

by Hayden Spiess

Santa Clarita, Calif. — iBorrow has provided $15 million in refinancing for Old Orchard Shopping Center, a 100,000-square-foot retail center located in Santa Clarita. Proceeds of the financing will retire an outstanding commercial mortgage-backed security loan and fund tenant improvements and leasing commissions. Occupants at the property, located at 23329-23449 Lyons Ave., include grocery and fast-food tenants.

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FinanceNew YorkNews

Triple Five Secures Financing for 3 Million-Square-Foot American Dream Development Near New York City

by Hayden Spiess

East Rutherford, N.J. — Triple Five — owners of American Dream — have secured financing for the 3 million-square-foot development, which is located in East Rutherford, roughly 13 miles outside of New York City. Financing, provided by a group led by JP Morgan, was obtained for an extended term of four years, maturing in October of 2026. Attractions at American Dream include DreamWorks Water Park, Nickelodeon Universe Theme Park, LEGOLAND Discovery Center, SEA LIFE Aquarium, Big SNOW Ski Hill and Dream Wheel. Retail and food and beverage tenants include Saks …

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CaliforniaFinanceInvestment salesNews

Matthews Brokers $6.9 Million Acquisition of Fresno Shopping Center

by Hayden Spiess

Fresno, Calif. — Matthews Real Estate Investment Services has arranged the sale of Village Walk Shopping Center, a 30,000-square-foot retail center located in Fresno. Nabil Awada of Matthews represented the undisclosed buyer, which acquired the property for $6.9 million in a 1031-exchange transaction. Crunch Fitness Center anchors the property, which is located at 6350-6380 North Figarden Ave. Jim Brandon and Greg Kavoklis of Matthews arranged financing for the purchase.

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