Monday, November 11, 2013

HFF secures $22 million financing for grocery-anchored retail center in Chester, NJ

Chester  Springs Shopping Center, Chester, NJ

Eric Tupler
DENVER, CO – HFF announced today that it has arranged a $22 million financing for Chester Springs Shopping Center, a 223,068-square-foot, grocery-anchored shopping center in Chester, New Jersey.

Working exclusively on behalf of Heitman and Ramco-Gershenson Properties Trust, HFF placed the three-year loan with a national bank, at a floating interest rate of LIBOR plus 175 basis points.

Jon Mikula

Situated on approximately 20.4 acres, Chester Springs Shopping Center is located at the intersection of U.S. Highway 206 and Maple Avenue in downtown Chester. 

The center is 96.6 percent leased and is anchored by ShopRite, the dominant New Jersey grocer.  Other major tenants include Marshalls, Staples and CVS.

Kristian Lichtenfels
The HFF team representing the borrower was led by senior managing directors Eric Tupler and Jon Mikula and real estate analysts Kristian Lichtenfels and Michael Cerulo.

For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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