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5/14/25
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JLL CAPITAL MARKETS -- Greg Brown, John Marshall, Spencer Seibring and Allie Black with JLL Capital Markets arranged a $27.55 mil loan for Torrey Hills Center, an 86.5k sf, grocery-anchored neighborhood retail center in San Diego. Torrey Hills Center, located at 4639-4653 Carmel Mountain Rd, is strategically positioned in the affluent Carmel Valley neighborhood. Built in 2005, the property is 98.4% leased to 26 tenants, anchored by Vons Market and featuring a diverse mix of national and regional retailers including OrangeTheory Fitness, Starbucks, Wells Fargo and JetSet Pilates. The center benefits from its prime location at the intersection of Carmel Mountain Rd. and E Ocean Air Dr., just one mile from I-5 and I-805, serving the upscale communities of Torrey Hills and Carmel Valley. The surrounding demographics are exceptional, with an average household income of $246,656 within a one-mile radius. The 10-year, fixed-rate loan was funded through an insurance company.
Sun Garden Retail Center, San Jose |
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SLATT CAPITAL -- David Bruni with Slatt Capital arranged a $19.7 mil refi loan for Sun Garden Retail Center, a 107.9k sf, multi-tenant grocery-anchored shopping center located at the intersection of Monterey Rd and E. Alma Ave in the heart of San Jose. Sun Garden Retail Center integrates elements of local history and community identity as it sits on the former site of the Sun Garden Packing Company, a legacy cannery tied to San Jose’s agricultural roots. Architectural and artistic features throughout the project pay homage to this history, while the center continues to evolve alongside the city’s broader high-tech transformation. To better manage tenant lease maturities, the client chose a 12-year fixed-rate loan that was funded through a life company lender prior to a larger unit lease signing.
GANTRY - Tony Kaufmann and Alex Poulos with Gantry arranged a $7.7 mil hybrid bridge/permanent loan for a stabilized neighborhood retail center located at 22401-22487 Foothill Blvd in Hayward, an East Bay suburb south of Oakland. The 70.4k sf, inline center occupies 3.32 acres and is serviced by free city parking. The property is fully-stabilized and features a diverse mix of tenants including Dollar Tree, Arthur Murray Dance Centers, Round Table Pizza and others. The borrower is a private real estate investor. The new loan was provided by an insurance company lender and features an upfront fixed-rate and prepayment options over a 25-year term. Gantry will service the loan.
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