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MAYS LANDING, NJ-A total of $55 million in fixed-rate permanent financing has been arranged for the 850,000-sf Wrangleboro Consumer Square, a retail power center located just west of Atlantic City. The property was developed in phases between 1996 and the present by the Buffalo, NY-based Benderson Development Co., which has a regional office in Springfield, NJ.

GMAC Commercial Mortgage Corp. arranged the financial through its correspondent relationship with AIG/Sun America Life Insurance Co. “AIG/Sun provided a very aggressive financing package,” according to Daniel Monte, senior VP in GMACCM’s Buffalo, NY office, which originated the loan. “All parties were very pleased with the end result.”

Wrangleboro Consumer Square is located in a growing cluster of retail in the Atlantic City market. Located nearby are both the mammoth 1.3 million-sf Hamilton Mall and Benderson’s own 350,000-sf Hamilton Commons.

The financed property is anchored by Target, BJ’s Wholesale Club, Kohl’s, Dick’s Sporting Goods, Staples, Old Navy, Linens ‘N Things, Babies “R” Us, Border’s Books and Michaels Crafts. Smaller tenants include Men’s Wearhouse, Old Country Buffet, joyceleslie and Jennifer Convertibles.

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