May
2
CBRE Capital Markets Arranges $16.5M in Financing for Retail Center in South Brunswick
By Betsy Kraat
SOUTH BRUNSWICK--James Gunning and Donna Falzarano of CB Richard Ellis Debt & Equity Finance arranged $16.5 million in permanent mortgage financing for The Morris Companies for an 80,509-sf community shopping center located at Route 1 and Stouts Lane in South Brunswick/Monmouth Junction.
Northwestern Mutual Life provided the funding.
Heritage Square Shopping Center is a newly constructed three-building retail center located on Route 1 and is minutes from I-95 and the Princeton area. At the time of closing, the Target-anchored shopping center was fully leased to Best Buy, Staples, Pet Smart and a variety of well-known satellite retailers.
CB Richard Ellis
www.cbre.com
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