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2/07/17
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United American Properties Inc and World Premier Investments Inc have a secured a $92 mil refi loan on Grand Plaza, a 356.8k sf retail power center with a grocery anchor in the San Diego-area community of San Marcos. The center is situated along Hwy 78, Grand Ave and Las Posas Rd, within a few miles of Cal State San Marcos and Palomar College.
Anchored by Sprouts Farmers Market, the 94%-leased Grand Plaza is also home to best-in-class national and regional tenants, including Orchard Supply Hardware, Bed Bath and Beyond, Ross Dress for Less, Marshalls, Boudin Bakery, Lane Bryant, Party City, Broken Yolk Café, Starbucks and Ulta Beauty, as well as the only Nordstrom Rack in North County San Diego. Grand Plaza is a destination shopping center that draws from a variety of communities in addition to San Marcos, including Escondido, Vista, Oceanside and Rancho Bernardo.
HFF’s John Chun, Sebastian Trujillo and AJ Manas arranged the 25-year, fixed-rate loan, which was funded through J.P. Morgan Asset Management.
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