The shopping center has 72,000 sf of inline retail stores anchored by Guitar Center RadioShack, Foot Locker and Fashion Bug. Payless Shoes and Bedding Experts are also tenants in the inline retail space. Fifth Third Bank, Applebee's and Panda Express are outlot tenants and a Loews movie theater is a tenant of a 77,000 sf ground lease.
The space is being marketed from $30 to $34 per sf. The shopping center is part of a 450-acre development with 70 acres of commercial development including a 203,800-sf Wal-Mart Supercenter, according to promotional material from Tucker.
The $19 million non-recourse loan is 75% loan-to-value with the rate based on the 10-year US Treasury. The lender was not disclosed, but was described in the release by Cohen Financial as "a national conduit lender." Partner Joel Simmons and vice president Steve Kundert, both with Cohen Financial, originated the transaction.
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