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FinanceIllinoisNewsRetailers

Mag Mile Capital Arranges $12.5 Million Refinancing for Retail Property in Lincolnwood, Illinois

by Alex Tostado

Lincolnwood, Ill. — Mag Mile Capital has arranged a $12.5 million loan for the refinancing of a 63,453-square-foot retail property located at 6850 McCormick Blvd. in Lincolnwood. The property is home to Walmart’s new online grocery and consumer goods pick-up concept as well as Planet Fitness. R&R Global Partners acquired the building in November 2015, following an unsuccessful redevelopment attempt by its previous owner. The property had been vacant for more than two years after Dominick’s exited the market in 2013. Mac Dobson of Mag Mile arranged the seven-year, fixed-rate …

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FinanceFloridaInvestment salesNewsRetailers

JLL Arranges Sale, Financing for Retail Center in Orlando

by Alex Tostado

Orlando, Fla. — JLL has arranged the $8.5 million sale of Premium Shoppes at Lake Buena Vista, a 26,148-square-foot retail center in Orlando. The property was fully leased at the time of sale to tenants including Carrabba’s Italian Grill, Panera Bread, Verizon Wireless, Escape Room and Tropical Smoothie Café. Premium Shoppes is located at 8600 Vineland Ave., two miles from the entrance of Walt Disney World. Tarik Bateh, Carson Good (now with Good Capital Group), Jennifer Swanson, and Jennifer Ayers of JLL represented the seller, an affiliate of Orlando-based Intram …

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CaliforniaFinanceInvestment salesNewsRetailers

JLL Arranges Sale, Financing of 154,750-Square-Foot Shopping Center in Southern California

by Alex Tostado

Signal Hill, Calif. — JLL has facilitated the sale of Towne Center East, fully leased retail center in Signal Hill. BIG Shopping Centers USA sold the asset to an institutional buyer for an undisclosed price. Additionally, JLL placed the fixed-rate acquisition loan with a global investment bank. Situated on nearly 15 acres at 2172-2598 Cherry Ave., Towne Center East features 154,750 square feet of retail space. Tenants include The Home Depot, PetSmart, Supercuts, T-Mobile, Subway, GNC, Chinese Combo and Tutti Frutti Yogurt, among others. Patrick Toomey and Tom Lagos of …

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CaliforniaFinanceMallsNewsRetailers

Uber Capital Group Arranges $28.7 Million in Acquisition Financing for Sierra Vista Mall Near Fresno

by Alex Tostado

Clovis, Calif. — Great Neck, New York-based Uber Capital Group has secured a $28.7 million acquisition loan for the purchase of Sierra Vista Mall, located at 1050 Shaw Ave. in Clovis, a suburb of Fresno. The borrower is a private national commercial real estate investment group based in New York. The lender was not disclosed. Joel J. Gorjian, president and founder of Uber Capital Group, sourced the 10-year, fixed-rate loan, which features 15-year full amortization and partial recourse. Totaling 690,487 square feet, Sierra Vista Mall is occupied by 75 tenants …

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FinanceNew JerseyNewsRetailers

Cronheim Mortgage Secures $10 Million Financing Loan for Retail Center in Newark, New Jersey

by Alex Tostado

Newark, N.J. — Cronheim Mortgage has arranged a $10 million financing loan for Ferry Plaza, a retail center in Newark. One America provided the loan, which carried a10-year term and a 22-year amortization schedule. Seabra Supermarket anchors the 63,433-square-foot retail center, which also houses a post office, bank and several other retailers and restaurants. Cronheim arranged the loan on behalf of the borrower, an entity affiliated with Urstadt Biddle Properties Inc.

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FinanceIllinoisMixed-useNewsRetailers

JLL Arranges $140 Million Refinancing for Mixed-Use Development Adjacent to Wrigley Field

by Alex Tostado

Chicago — JLL has arranged a $140 million loan for the refinancing of Gallagher Way, a recently completed mixed-use development adjacent to Chicago’s Wrigley Field. The project includes more than 93,000 square feet of office space, 85,100 square feet of retail space, the 173-room Hotel Zachary and an 8,000-square-foot open-air entertainment plaza. Danny Kaufman, Christopher Knight, Jeff Bucaro and Nicole Aguiar of JLL arranged the 30-year, fixed-rate loan on behalf of the borrower, Hickory Street Capital, the real estate arm of the Ricketts family. Barings, an international investment management firm …

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FinanceGrocery-anchoredNewsPennsylvaniaRetailers

Meridian Capital Arranges $9.8 Million Acquisition Loan for Shopping Center in York, Pennsylvania

by Alex Tostado

York, Pa. — Meridian Capital Group and an affiliate of CBRE have arranged a $9.8 million acquisition loan for Two Guys Commons, a 110,000-square-foot, five-tenant retail center in York. The 10-year CMBS loan features a 3.9 percent fixed interest rate and three years of interest-only payments. Two Guys Commons was fully leased at the time of the acquisition to anchor tenant Aldi, Ashley Furniture HomeStore, Tractor Supply Co., Old Country Buffet and Crunch Fitness. Bryan Kallenberg, and Meyer Ovadia of Meridian represented the borrowers, RW Capital Partners Inc. and Vastgood …

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DevelopmentFinanceNew JerseyNewsRetailers

Cushman & Wakefield Arranges $72.5 Million Construction Loan for Retail Redevelopment in Roxbury, New Jersey

by Alex Tostado

Roxbury, N.J. — Cushman & Wakefield has arranged a $72.5 million construction loan for the redevelopment of The Shops at Ledgewood Commons, a retail center in Roxbury, located about 40 miles west of New York City. Santander Bank provided the loan, exact terms of which were undisclosed. The borrower, Advance Realty Advisors, plans to reposition the former enclosed mall into an open-air retail center. John Alascio, Sridhar Vankayala, T.J. Sullivan and Zachary Kraft of Cushman & Wakefield arranged the loan.

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FinanceNewsRetailersTexas

Berkadia Secures $18.9 Million CMBS Financing for Two Retail Properties in Metro San Antonio, Dallas

by Alex Tostado

Garland, Texas — Berkadia has arranged CMBS financing totaling $18.9 million for two retail properties near San Antonio and Dallas. The financing included a $15.4 million, 10-year loan that Argentic provided for Courtyard Plaza, a retail strip center located at 155 S. Interstate 35 in the San Antonio suburb of New Braunfels. The other deal was a 10-year, $3.5 million loan that Wells Fargo provided for Duck Creek Community Shopping Center, a retail center located at 5006 N. Jupiter Road in the Dallas suburb of Garland. Joseph Hevey Jr. of Berkadia’s …

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FinanceIllinoisNewsRetailers

NorthMarq Arranges $8.4 Million Refinancing of Retail Center Near St. Louis

by Alex Tostado

Alton, Ill. — NorthMarq has arranged an $8.4 million loan for the refinancing of Alton Corners Shopping Center in Alton, about 15 miles north of St. Louis. The 50,063-square-foot retail center is located at 309-319 Horner M Adams Parkway. Tenants include Office Depot, Mattress Firm, Firehouse Subs and Applebee’s. Susan Branscome of NorthMarq arranged the loan, which features an 80 percent loan-to-value ratio, with a regional bank.

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