Monday, July 1, 2013

HFF arranges fixed-rate financing for Trader Joe’s-anchored center in southern New Jersey


Marlton Square, Marlton, NJ

FLORHAM PARK, NJ – HFF announced today that it has arranged fixed-rate financing for Marlton Square, a 78,781-square-foot shopping center anchored by Trader Joe’s in Marlton, New Jersey.

Jim Cadranell
                HFF worked exclusively on behalf of the borrower, Paramount Realty Services, Inc., to secure the fixed-rate loan through Allstate Investments, which will be serviced by HFF. 

  Loan proceeds were used to retire existing debt and for capital costs related to an expansion of Trader Joe’s.  HFF also arranged financing for Charter Oak Marketplace in early June on behalf of Paramount through a life company.

                Completed in 1999, Marlton Square consists of two single-story buildings totaling 74,437 square feet.  Trader Joe’s is expanding its space by 4,344 square feet with an anticipated completion date in the fourth quarter 2013. 

Jon Mikula
Additional tenants at the center include Starbucks, The Gap, Victoria’s Secret, Charming Charlie, Janie & Jack, Chicos, and Bath & Body Works.  Marlton Square is situated on a 10.44-acre site at 300 US Route 73 near the intersection of Route 70 about 10 miles east of Center City Philadelphia.

                The HFF team representing Paramount Realty Services, Inc. was led by managing director Jim Cadranell and senior managing director Jon Mikula.
  
 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 | www.hfflp.com

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