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SPRINGFIELD, NJ-David Cronheim Mortgage Corp., based in Chatham, NJ, has arranged financing of $7.8 million for an 80,000-sf retail center anchored by Linens ‘n Things here. The loan has a 14-year term and a 20-year amortization.

Cronheim acted as mortgage correspondent on placing the mortgage, according to the firm’s COO, Andrew Stewart. The borrower was a local partnership, which was not identified.

Besides Linens ‘n Things, the shopping center’s other major tenant is Bob’s Stores. The latter’s lease was recently acquired by TJ Maxx, according to Stewart, although Bob’s Stores remains open for business for now.

Originally constructed in 1972, the asset has since been renovated. It’s located on US Route 22, a major commercial corridor through Northern and Central New Jersey “with very little vacancy,” according to Stewart.

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