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3/27/24
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MDC Realty Advisors has refinanced Camelback East Shops, a 25.1k sf neighborhood retail center in Phoenix, AZ, with a new loan for $5.3 mil.
Located on the southeast corner of 32nd St and Camelback Rd, Camelback East Shops is leased to a diverse roster of tenants including popular local restaurants, Tarbell’s and First Watch, along with long-standing retailers like Van’s Golf Shops. The center’s irreplaceable location along the Camelback corridor provides tenants with superior visibility, with over 45,000 VPD traveling on the major thoroughfare.
Will Haass and Eric Tupler with JLL Capital markets secured the loan from a correspondent life company. Despite a recent vacancy at the center, JLL was able to procure fixed-rate financing at a favorable rate and full-term interest only amortization. MDC Realty Advisors team was led by one of its principals, Allan Okabe, in the transaction.
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