The Klein Group, Sterling Properties Receive $17.5 Million Refinancing for Shopping Center in Metro New York City

by Katie Sloan

Warren, N.J. — The Klein Group and Sterling Properties Group have received a $17.5 million refinancing for Warren Village Shopping Center, a 61,838-square-foot shopping center located roughly 35 miles outside New York City in Warren.

Kings Supermarket anchors the 99.3-percent leased center, which is also home to tenants including Country Squire Restaurant, Peapack-Gladstone Bank, Massage Envy, Remax, European Wax Center, Starbucks Coffee, Edgewood Pharmacy, Impact Martial Arts and The UPS Store. Jon Mikula and Jim Cadranell of HFF secured the 10-year, fixed-rate loan through a life company on behalf of the borrowers. Loan proceeds will be used to refinance existing debt.

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