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| Marketplace at Signal Butte, Mesa, AZ |
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| Greg Brown |
NEWPORT BEACH, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $6.3 million in
acquisition financing for Marketplace at
Signal Butte, a 116,358-square-foot, grocery-anchored community shopping
center in the eastern part of Mesa, Arizona.
HFF worked on behalf of
the borrower, Progression REI, to place the 10-year, fixed-rate loan with Wells
Fargo Bank.
Anchored by Basha’s, an
Arizona grocery store chain, Marketplace at Signal Butte is home to Big 5
Sporting Goods, Denny’s, Dollar General, Golden China, Sunrise Daycare, US Nail
Spa, Edward Jones, Papa John's Pizza and H&R Block.
The center is situated on
12 acres at the southwest corner of Signal Butte Road, a north-south artery,
and Main Street, one of the original east-west corridors in the southeast
valley.
Just south of Marketplace at Signal Butte is a
full-diamond interchange at Signal Butte Road and Interstate 60, and there are
more than 83,000 residents living within a three-mile radius of the center.
The HFF debt placement
team representing the borrower was led by director Greg Brown.
“Our team at HFF was able
to provide our client with an excellent fixed-rate financing solution during a
challenging time in the capital markets as a result of our strategic lender
relationships,” said Brown.
"We are grateful to
HFF and Wells Fargo Bank for supporting our investment in this well-located and
well-designed property with a strong mix of retailers, high current returns and
opportunity to grow its value,” said Jim Howard, Progression REI managing
partner.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
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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