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| Cushing Plaza, Cushing, OK |
TAMPA, FL (June 7, 2016) —
Franklin Street Capital Advisors (FSCA) has closed a $1.5 million refinance
loan for Cushing Plaza, a
66,454-square-foot shopping center located in Cushing, Oklahoma.
Ben Miller and
Casey Siggins of FSCA secured the
loan on behalf of the owner, Lone Star Equities, Inc. The 10-year loan includes
a 4.5 percent fixed rate with a 20-year amortization.
“We were able to overcome
significant challenges to secure this loan, including an out-of-market sponsor
and significant lease roll over during the next two years,” Miller said. “This
cash-out refinance will allow the borrower to make improvements to this asset
as well as other assets within his portfolio.”
Anchored by Cost Cutter,
the 7.59-acre property is located at 2220 East Main Street on a main
thoroughfare and is currently fully leased. Other tenants at the center include
Hibbett Sporting Goods, Stage Stores, Stanley’s Rent to Own, and Compliance
Advantage.
For a complete copy of the company’s news release,
please contact:
Kelsy Van Camp
813-839-7300, ext. 337
@FranklinSt_llc
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