City Center Marketplace 1 City Center Marketplace 2 City Center Marketplace 3 City Center Marketplace 4
Situation/Challenges
  • Class B anchored retail shopping center
  • 59% occupied at closing
  • Significant future facilities needed to address several immediate exterior renovations and execute leasing strategy to stabilize the property
  • One of the anchor spaces is currently dark
  • Lack of attention from previous owner contributed to reduction in leasing activity
Solutions/Highlights
  • Structured future funding facilities totaling over $2.9 million
  • Current tenant roster includes several well-known national and regional businesses
  • Sponsor is local operator with a history of acquiring and leasing other properties similar to this asset
  • Non-recourse
  • 5-year term plus extensions