Freehold, N.J. — The center was completely vacant before a recent recapitalization and is now 100 percent leased.
Triangle Equities has secured a $7.5 million loan with CIBC (Canadian Imperial Bank of Commerce) for its 62,000-square-foot retail property, Freehold Raceway Village, located in Freehold. This follows a successful recapitalization of the shopping center in which Triangle took on $5.5 million in debt from the previously existing owner. Located near Freehold Raceway Mall, and amongst other centers in the dense retail corridor, the center was completely vacant before the recapitalization and is now 100 percent leased. Several notable tenants have space in the shopping center, including Big Lots, Huffman Koos, Dick’s Sporting Goods, Home Depot, Toys R Us, Raymour & Flanigan and Christmas Tree Shoppes. Additionally, Triangle replaced the roof of the property and has paid all leasing commissions and tenant improvement allowances.