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February 25, 2024
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Commercial Real Estate Financing Briefs

11/28/23

CBRE CAPITAL MARKETS - Shaun Moothart, Bruce Francis, Bob Ybarra, Doug Birrell, Nick Santangelo and Jim Korinek with the CBRE Capital Markets Debt and Structured Finance team secured $15 mil in permanent financing for a shadow-anchored retail property located at the intersection of Oracle Rd and Wetmore Rd in Tucson, AZ on behalf of its client, Acacia Real Estate Group. Located at 4368-4386 North Oracle Rd, the 90.5k sf retail center has three buildings and is fully leased to 13 tenants. The center is anchored by JoAnn Fabric and Craft, Cost Plus World Market, PetSmart and Ulta, and is shadow-anchored by Home Depot, Total Wine and Nordstrom Rack. The property was built in 2005 and is situated on 8.30 acres on the southwest corner of the busy intersection of Oracle Rd and Wetmore Rd.

ATLAS Germann, Gilbert, AZ
ATLAS Germann, Gilbert, AZ
JLL CAPITAL MARKETS - Jason Carlos and Jarrod Howard with JLL Capital Markets arranged $12 mil in construction financing on behalf of ATLAS and OakPoint for ATLAS Germann, a 60.5k sf industrial development in Gilbert, AZ. The property is fully pre-leased to Frito-Lay Inc for 10 years. ATLAS Germann will cover 8.16 acres in the Southeast Valley, Phoenix’s premier industrial market, and one of the most highly sought-after industrial markets in the United States. The five-year, fixed-rate loan was funded through a regional bank. Steve Larsen and Kyle Westfall, also with JLL, arranged the lease to Frito-Lay, a subsidiary of PepsiCo and the most popular snack food company in the world.

GANTRY - Tony Kaufmann and Alex Poulos with Gantry secured a $7.8 mil permanent loan on behalf of a California-based retail developer to refinance 26.4k sf of retail space that includes an inline strip that shadow anchors an independently-owned Safeway grocery store and four pad buildings. The buildings are all located within the Shoppes at Continental Ranch at 9110-9150 Silverbell Road in Marana, AZ. The Shoppes serve as the retail focal point for the fast-growing suburb of Marana, an emerging submarket northwest of Tucson off Interstate 10. Center tenants shadowing Safeway include a strategic mix of national and local dining, professional service, and essentials retailers. The 10-year permanent loan features an attractive fixed-rate locked at application and 30-year amortization.





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