WEST CHESTER, PA—Holliday Fenoglio Fowler has arranged an $18.5 million refinancing for West Goshen Town Centre, a 135,650-square-foot retail center anchored by ShopRite in the suburban Philadelphia community of West Chester, PA.
HFF worked on behalf of the borrower, Brandolini Companies, to secure the permanent, fixed-rate loan through an institutional lender it declined to disclose. HFF also declined to discuss terms of the loan.
Situated on 17.6 acres at Route 3 and Five Points Road, West Goshen Town Centre is five miles from downtown West Chester. The property is adjacent to four multi-housing complexes with a total of 968 units, and the center is near some of the county's major employers, including QVC's global headquarters, Chester County Hospital and the 15,000-student West Chester University. Fully leased, the four-building West Goshen Towne Centre is home to anchors ShopRite and A.C. Moore in addition to Applebee's Neighborhood Grill, Panera Bread, AT&T, Massage Envy, GameStop, Great Clips, Sun East Federal Credit Union and H&R Block.
The HFF team representing the borrower was led by managing director Ryan Ade.
"Having the market-leading grocer, ShopRite, as an anchor draw, West Goshen Town Centre occupies one of the best locations for retail in the western suburbs," says Ade. "Lenders competed aggressively via the HFF process, and the end result was a best in market execution for our client, Brandolini."
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
