Wednesday, November 23, 2016

HFF secures $72 million financing for Plaza at Landmark in Fairfax, VA

Plaza at Landmark, Fairfax, VA

Cary Abod
WASHINGTON, DC -– Holliday Fenoglio Fowler, L.P. (HFF) announced it has secured a $72 million refinancing for Plaza at Landmark, a 437,299-square-foot, grocery-anchored regional power center in Fairfax, Virginia.

Working on behalf of the borrower, Landmark HHH, LLC, HFF placed the 18-year, fixed-rate loan with AIG Investments. 

Plaza at Landmark comprises two multi-tenant buildings and individual pad sites.  The 98.2-percent-leased center is home to national and regional tenants, including Shoppers, Marshalls, Ross Dress for Less, LA Fitness, Total Wine & More, Dollar Tree, Verizon, DFurniture Galleries, BB&T, Five Below, GameStop and Chipotle. 

Situated on 22.65 acres at 6244 Little River Turnpike, Plaza at Landmark is in Fairfax County on the border of Alexandria, one of the nation’s most affluent communities, and in the Alexandria/I-395 Corridor submarket, one of the strongest in the Washington, D.C. metropolitan area. 

The center is located at the intersection of Route 236 (Little River Turnpike) and Beauregard Street and 100 yards from the Interstate 395 exit ramp. 

The HFF debt placement team representing the borrower was led by managing director Cary Abod and senior managing director Dana Brome.

Dana Brome
“Landmark HHH, LLC and its affiliates are very fortunate to have a close, productive relationship with HFF, which has lasted over 25 years,” said Marshall Ruben, principal of the borrower.  

“We are extremely pleased that through the efforts of the HFF team we were able to work with the first class, professional real estate lending group at AIG and close this very beneficial long term, fixed-rate financing.

" The recently renovated Plaza at Landmark is now well positioned for outstanding long term growth and success for our tenants and the community we serve.”

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 |

BLT Enterprises Sells Class A Industrial Building for $11.75 Million in Oxnard, CA

Quaker Sales & Distribution, Inc. Industrial Building, 2100 Eastman Avenue, Oxnard, CA

Bernard Huberman
OXNARD, CA – BLT Enterprises, a multi-faceted real estate investment company, has sold a 91,950 square-foot industrial building in Oxnard, California for $11.75 million. The building is currently 100-percent occupied by Quaker Sales & Distribution, Inc., one of the world’s leading food and beverage companies.

“We have been a long-term owner in Oxnard and throughout Ventura County for more than three decades,” explains Bernard Huberman, Founder and President of BLT Enterprises. “The sale of this property demonstrates our continued strategy to shift our focus and diversify our portfolio to high growth markets in Orange, Los Angeles and San Diego counties.”

            Huberman explains that BLT initially acquired the industrial building in 2001, and during its 15-year hold period, was able to significantly increase the value of the property.

“Our strategy has and always will be long-term holds,” says Huberman. “Throughout our ownership of this property, we were able to create a steady stream of income and drive long-term value through a series of capital improvements and strategic leasing. This resulted in strong investor interest in the current market, which allowed us to sell the property for a premium price.”

Quaker Sales & Distribution, a wholly owned subsidiary of PepsiCo., Inc. has occupied the building since 2012.  Paul Farry at CBRE represented both the buyer and the seller in the transaction. 

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

Lexi Astfalk/Jenn Quader
Brower, Miller & Cole
(949) 955-7940