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| 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.
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| 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.
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| 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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