Paul Brindley of the Los Angeles office of Holliday Fenoglio says the $22.4 million, which refinances a construction loan, closed as 10-year, fixed-rate debt from Greenwich Capital.
Brindley, who arranged the financing, says the retail center is 95% leased to a tenant roster including Babies R' Us, Golfsmith, Joann's and Toys R' Us. The property, which was built in 2001, is at 4410-4492 Ontario Mills Parkway in a highly visible location along the San Bernardino (I-10)Freeway, adjacent to the Ontario Mills Mall. It is one of a number of holdings of Zelman, a real estate development company that specializes in retail centers anchored by large format national discounters and also develops industrial properties. The Ontario center is one of a number of retail properties that have been developed near Ontario Mills, a mall of nearly 1.5 million sf that has been a catalyst for the other developments.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.