Monday, December 26, 2016

HFF arranges $35 million refinancing for ShopRite-anchored shopping center near Wilmington, DE

Governor's Square Shopping Center, Bear, DE

 HILADELPHIA, PA –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $35 million refinancing for Governor’s Square Shopping Center, a 294,213-square-foot, fully-leased, retail property anchored by ShopRite in the Wilmington suburb of Bear, Delaware.

HFF worked on behalf of the borrower, Delle Donne & Associates, Inc., to secure a new, permanent, fixed-rate loan with an institutional lender.  Loan proceeds will be used to retire existing indebtedness.

Ryan Ade
Governor’s Square Shopping Center is a two-building center with three pad sites leased to Wells Fargo, Taco Bell and McDonald’s.  

In addition to grocery anchor ShopRite, the retail center is also home to Kmart, American Signature Furniture, Rite Aid, Sneaker Villa, H&R Block, Karate for Kids, Radio Shack, Bear Chiropractic, Subway, GameStop and more. 

Located at 401 Governor’s Place, Governor’s Square Shopping Center is near the convergence of Route 40, U.S. Route 1 and Highway 7 in Bear, a northwest suburb of Wilmington.  More than 44,000 vehicles pass by the property daily, and approximately 81,000 people live within a three-mile radius of the center.

The HFF debt placement team representing the borrower was led by managing director Ryan Ade.

“The quality of the location and the strength of sponsorship led us to a successful loan placement in a time of volatility with respect to interest rates,” Ade said. 

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

Kristen M. Murphy
Director, Marketing
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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