19001-19415 Golden Valley Rd, Santa Clarita, CA |
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GANTRY -- Tony Kaufmann, Alex Poulos and Joe Foley with Gantry arranged $46.5 mil in permanent loans for The Plaza at Golden Valley, a regional power center located at 19001-19415 Golden Valley Rd in Santa Clarita, a northern suburb of Los Angeles. The center spans over 600k sf of total leasable space, and includes tenants such as Trader Joe’s, Staples, BevMo!, TJ Maxx, Panera Bread, Chili’s, PetSmart, Popeyes, McDonald’s, Chipotle, Bath & Body Works, Daiso, The Habit Burger, and The Kebab Shop. The center is shadow anchored by Target, Lowe’s, and Kohl’s. The 10-year, fixed rate loans were funded through insurance company lenders on behalf of a private investor and feature interest-only introductory periods, non-recourse terms and 30-year amortization. Gantry will service the loans.
3210 W Slauson Ave, Los Angeles, CA |
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JLL CAPITAL MARKETS -- Spencer Bergthold, Charles Halladay and Daniel Skerrett with JLL Capital Markets arranged $32 mil in senior financing for Crenshaw Plaza, a 146.9k sf, grocery-anchored retail center in Los Angeles. Crenshaw Plaza is located at 3210 W Slauson Ave, at the intersection with Crenshaw Blvd, which see a combined traffic volume of over 72,000 vehicles per day. The property is also adjacent to the Hyde Park Station on the new Metro Rail System, providing excellent accessibility. Originally built in 1967 and renovated in 2004, Crenshaw Plaza is currently 97% leased. The property is anchored by a new 15-year lease with Vallarta Supermarkets, occupying 31.5% of the gross leasable area. Other major tenants include Planet Fitness, Foot Locker and AutoZone. The center boasts a diverse tenant mix and a weighted average lease term of 9.3 years. The loan proceeds will be used to refinance the existing loan, cover closing costs and fund future leasing expenses. JLL arranged the three-year, floating-rate loan through Forbright Bank on behalf of the owners, a joint venture between the principals of 21 Alpha Group and Intelligent Design Real Estate.
17124 W Peoria Ave, Surprise, AZ |
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JLL CAPITAL MARKETS -- Jason Carlos with JLL Capital Markets arranged a $16.5 mil senior loan for Sterling Grove, a newly constructed Safeway-anchored retail center in Surprise, AZ. Developed in 2023 by Common Bond Development Group, Sterling Grove Shopping Center is a newly constructed retail development that is 100% leased to a diverse mix of national and regional tenants, anchored by a Safeway supermarket and accompanying Safeway Fuel station. Other prominent tenants contributing to Sterling Grove’s strong draw include well-known brands such as McDonald's, Starbucks and Taco Bell, enhancing its appeal as a convenient one-stop destination for local shoppers. The center is strategically located at 17124 W Peoria Ave. in the greater Phoenix MSA, positioned near the intersection of SR-303 and Northern Parkway. The permanent financing was funded through Nationwide on behalf of the borrower, Common Bond Development Group.
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