WYCKOFF, NJ-HFF has arranged $43 million in financing on behalf of Hekemian & Co. for Boulder Run Shopping Center, a 175,524-square-foot, grocery-anchored shopping center in Wyckoff, NJ, GlobeSt.com has learned.
The HFF team, led by senior managing director Thomas Didio and director Michael Klein, secured fixed-rate financing with Allstate Investments, LLC. “We were thrilled to play a role in securing the permanent financing for such a core ‘class A’ property,” says Didio.
Situated on 19 acres at the northwest corner of Franklin Avenue and Godwin Avenue in Wyckoff’s central business district, Boulder Run Shopping Center was completed in 1965. The center recently underwent a complete renovation and expansion that includes a newly constructed Stop & Shop supermarket. Other tenants at the shopping center include Marshalls, McDonald’s, and Starbucks.
The asking rent for a 6,000-square-foot space currently available near the Stop & Shop is $35 per square foot, according to LoopNet.
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