Orange Park, Fla. — Marcus & Millichap Capital Corp. (MMCC) has arranged $7 million in financing for a 109,895-square-foot single-tenant retail property in the Jacksonville suburb of Orange Park. BJ’s Wholesale Club occupies the building. Garrett Fierstein of MMCC secured the financing through a local credit union on behalf of a private client.
Golden, Colo. — New York-based Integra Real Estate Capital has arranged a $5.4 million loan for the financing of Interplaza West, a 31,675-square-foot retail center located in Golden, approximately 12 miles west of Denver. Russell Kimyagarov of Integra secured the financing through a credit union lender. Petco anchors Interplaza West, which is 90 percent leased. Additional tenants include Adio Health Center and Great Clips.
Bannockburn, Ill. — Associated Bank has provided an $11.7 million loan to GTZ Properties for the development of a four-building, multi-tenant retail center on a vacant parcel in Bannockburn, approximately 30 miles north of Chicago. The 23,864-square-foot project is situated on a 5.3-acre corner lot adjacent to a Mariano’s grocery store and across the street from a Heinen’s grocery store. The development is 93 percent preleased with one space remaining. Signed leases include Wells Fargo Bank, Chipotle, Heart Certified Auto Care, Just Salad and a nail salon. The Gardner School …
Poughkeepsie, N.Y. — Basis Investment Group has provided a $27.5 million bridge loan to refinance the existing debt of Plaza 44, a 168,713-square-foot, grocery-anchored neighborhood shopping center located north of New York City in Poughkeepsie. Capstone Realty was the borrower. Stop & Shop anchors the property, which houses a mix of other tenants such as Ross Dress for Less, Dollar Tree and KeyBank, as well as additional local businesses. Capstone plans to renovate the center and market the property for sale in the next two years.
Naperville, Ill. — JLL Capital Markets has arranged $27.3 million in financing for the acquisition of Market Meadows, a 149,185-square-foot shopping center located in Naperville, approximately 28 miles west of Chicago. Jewel-Osco anchors the property, which was 98.3 percent leased at the time of sale. Additional tenants include U.S. Bank, BMO Bank, T-Mobile, Chipotle Mexican Grill, Jersey Mike’s and McDonald’s. Chris Drew, Travis Anderson, Chris Knight, Wells Waller and Merrick Evans arranged the seven-year, fixed-rate loan through Principal Asset Management on behalf of the borrower, Barings. Rick Drogosz and Eric Geskermann of Mid-America Real …
Southern Pines, N.C. and Cedar Falls, Iowa — BWE has arranged $49.5 million for the refinancing of two shopping centers totaling 414,680 square feet located in North Carolina and Iowa. Dan Rosenberg, Logan Petersmeyer and Isabella Barrios of BWE secured the financings on behalf of Cincinnati, Ohio-based Midland Atlantic Properties. Both non-recourse loans feature competitive interest rates and multiple years of interest-only payments. The first property, Viking Plaza Drive in Cedar Falls, Iowa, is a 147,659-square-foot shopping center leased to Scheel’s, Michaels, Old Navy and Ulta Beauty. The second property, Morganton …
Charlotte, N.C. — Charlotte, North Carolina-based Big V Property has partnered with Equity Street Capital to launch the Big V Core Property Fund, a $1.2 billion open-ended retail real estate fund. The fund, which was created by consolidating seven retail properties into a single investment vehicle, spans six cities and is 96 percent leased. The properties include The Rim and Alamo Ranch in San Antonio; The Avenue Murfreesboro in Murfreesboro, Tennessee; Southpark Meadows in Austin, Texas; Glynn Isles in Brunswick, Georgia; Westside Center in Huntsville, Alabama; and Glade Parks in Euless, …
Fairfield, Calif. — JLL Capital Markets has arranged $38 million in refinancing for Gateway Plaza and a portion of Gateway Courtyard, two adjacent retail properties in Fairfield. Alex Olson and Danny Ryan of JLL’s Debt Advisory team represented the undisclosed borrower in the transaction. Anchored by Trader Joe’s, Gateway Plaza is fully leased to a mix of tenants including Ross Dress for Less, Michaels, Big 5 Sporting Goods and Petco. Gateway Courtyard is also fully occupied by tenants such as Panera Bread, Wingstop, Panda Express, T-Mobile, The Picklr and Nick the …
Westport, Conn. — Aubuchon Realty Co. has received $11.5 million in permanent financing for Elm & Main, a 23,954-square-foot mixed-use office and retail center located in downtown Westport. Henry Schaffer, Hunter Cuthbertson, Chris Angelone and Zach Nitsche of JLL’s Debt Advisory team arranged the fixed-rate loan through a correspondent life insurance company on behalf of the borrower. Originally built in 1963, Elm & Main features 12,010 square feet of ground-floor retail and 11,944 square feet of second-floor office space, along with 28 parking spaces. Additionally, the property will welcome Sephora …
Chandler, Ariz. — JLL Capital Markets has arranged $73.3 million in permanent financing for two shopping centers totaling 616,639 square feet in the Phoenix suburb of Chandler. The first property, Chandler Festival, spans 354,548 square feet and features a mix of tenants including T.J. Maxx, Ross Dress for Less, Nordstrom Rack and PetSmart. The second property, Chandler Gateway, encompasses 262,091 square feet and is anchored by Walmart and Hobby Lobby. Kevin MacKenzie, Jon Mikula, Jason Carlos, Quin Madden and Tyler Naughten of JLL arranged the five-year, fixed-rate loans on behalf of …
