HFF arranges $8.5M refinancing for Queens, New York shopping center

NEW YORK, NY – The New York office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged an $8.5 million refinancing for Duane Reade Plaza, (top left photo) a 50,000-square-foot shopping center in Little Neck, Queens, New York.

Working exclusively on behalf of Musso Properties, HFF director Steven Klein, (top right photo) along with analyst Todd Newman, placed the seven-year fixed-rate loan with Washington Mutual.


Musso Properties is a family-owned and operated real estate development, investment, construction and property management company focused on the New York metropolitan area.

Duane Reade Plaza is located at 56-01 – 56-02 Marathon Parkway on the south side of Horace Harding Expressway in Little Neck, the northeastern section of Queens.

The property is fully leased to tenants including a New York Mart Supermarket, Duane Reade and Washington Mutual, and recently underwent an extensive capital improvements program including, but not limited to, façade and parking lot upgrades.



CONTACTS:

Steven J. Klein, HFF Director, 212 245 2425, sklein@hfflp.com

Laurie Fish McDowell, HFF Associate Director, Marketing, 617 338 0990, lmcdowell@hfflp.com