Sunday, September 25, 2016
CHARLOTTE, NC –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured $7.85 million in acquisition financing for Rivertowne Square, a 75,295-square-foot, fully-occupied retail center in the North Carolina destination community of New Bern.
HFF worked on behalf of the borrower, Crosland Southeast, to place the floating-rate loan with New Bridge Bank. Loan proceeds were used to purchase the property.
Rivertowne Square is anchored by PetSmart, Books-A-Million, Shoe Carnival and Wal-Mart Supercenter (shadow anchor) and is home to Panera Bread, Cato, Chipotle, Athlete’s Foot and Game Stop.
Situated on 12.83 acres at 3005-3031 U.S. Highway W 17, the property is in the retail hub of New Bern, a popular retirement community and tourist destination located at the convergence of the Neuse and Trent Rivers approximately 30 miles from the Atlantic Ocean.
New Bern is at the gateway to the Outer Banks and has an expansive 45-mile coastal trade area with high historical retail volumes.
Rivertowne Square is at the “main and main” intersection of Highway 17 and U.S. 70, which has a combined traffic count of approximately 73,000 vehicles per day.
The HFF debt placement team representing the borrower was led by senior managing director Travis Anderson and associate director Cory Fowler.
For a complete copy of the company’s news release, please contact:
Kristen M. Murphy
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com