HFF senior managing director Jay Marshall and senior real estate analyst Christine Riniti of the firm's New York City office worked on behalf of Hamden Plaza Associates LLC to secure the 10-year, 5.3% fixed-rate loan to be serviced through Allstate Life Insurance Co., a correspondent lender. Hamden Plaza Associates LLC is controlled by Bermant Development Co., a California-based real estate firm that has built more than 1.5 million sf of commercial projects, according to Holliday officials.
Hamden Plaza was originally built in 1955 and underwent extensive renovations in 1997. The single-story property is 99% occupied by tenants including anchor stores Shaw's Supermarket and Marshalls, Petco, Subway, GNC, Payless Shoes and Chili's. The expansion of the Hamden Plaza will consist of 13,600 sf of in-line and outparcel space, HFF officials say. A portion of the space to be built has already been leased to Starbucks and Panera Breads.
Concordia Realty Management Inc will manage Hamden Plaza, which is located on a 23-acre parcel along the heavily developed, "Magic Mile" stretch of Dixwell Avenue in Hamden.
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