MONROE TOWNSHIP, NJ—CBRE completed a $7.7 million first mortgage refinancing secured by Monroe Town Center, a 32,205-square-foot community retail center in Monroe Township, NJ. It's the second time CBRE has helped the borrower finance the asset.

The CBRE Capital Markets Debt & Structured Finance team of James Gunning, Donna Falzarano and Evan Kleppe arranged the refinancing on behalf of Monroe Center Associates. Following a competitive bidding process involving a number of lenders and offers, the borrower selected a CMBS loan with a 10-year term from UBS Real Estate Securities.

Serving area residents for more than 20 years, Monroe Town Center is a firmly entrenched retail strip anchored by a Wawa store rated the 26th highest seller in non-gas locations of the entire Wawa chain. The center boasts a varied roster of tenants that offers local residents numerous dining options, as well as dental and vision services. Several of the property's tenants have been in occupancy since its opening in 1989.

Located at the intersection of Applegarth Road and Prospect Plains Road, Monroe Town Center provides tenants with prime visibility within the burgeoning Monroe community. In addition, the center offers immediate accessibly from Exit 8A of the New Jersey Turnpike and is centrally located between New York City and Philadelphia.

Instant Insights /

CBRE Structures Monroe Retail Refinance

Related Stories

Recommended For You