HFF Arranges $20 Million Refinancing for New Jersey Retail Center

Toms River, N.J. – Tri-City Plaza is 100 percent leased to 17 tenants.

HFF worked on behalf of Paramount Realty Services to secure a fixed-rate refinancing loan for Tri-City Plaza in Toms River, N.J. Toms River, N.J. – HFF has arranged a $20 million refinancing for Tri-City Plaza, a 108,109-square-foot retail center in Toms River. HFF worked on behalf of the borrower, Paramount Realty Services, to secure the fixed-rate loan. Proceeds from the HFF-serviced loan will replace existing debt on the property.

Tri-City Plaza is located on 15.97 acres three miles west of the Garden State Parkway in Toms River, a township less than 40 miles east of Trenton. Tri-City Plaza is 100 percent leased to 17 tenants, including Super Stop & Shop, Dollar Tree, Starbucks, GNC and The UPS Store. The Super Stop & Shop grocery store anchors the retail center and leases 55,800 square feet. The borrower and joint venture partner constructed the property in 1999. Senior managing director Jon Mikula, managing director Jim Cadranell and associate director Samuel Seiden led the HFF team representing the borrower.

 Scott Reid

 

 

 

Tagged under