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| Governor's Square Shopping Center, Bear, DE |
HILADELPHIA, PA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged a $35 million
refinancing for Governor’s Square
Shopping Center, a 294,213-square-foot, fully-leased, retail property
anchored by ShopRite in the Wilmington suburb of Bear, Delaware.
HFF worked on behalf of
the borrower, Delle Donne & Associates, Inc., to secure a new, permanent,
fixed-rate loan with an institutional lender.
Loan proceeds will be used to retire existing indebtedness.
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| Ryan Ade |
Governor’s Square Shopping
Center is a two-building center with three pad sites leased to Wells Fargo,
Taco Bell and McDonald’s.
In addition to
grocery anchor ShopRite, the retail center is also home to Kmart, American
Signature Furniture, Rite Aid, Sneaker Villa, H&R Block, Karate for Kids,
Radio Shack, Bear Chiropractic, Subway, GameStop and more.
Located at 401 Governor’s
Place, Governor’s Square Shopping Center is near the convergence of Route 40,
U.S. Route 1 and Highway 7 in Bear, a northwest suburb of Wilmington. More than 44,000 vehicles pass by the
property daily, and approximately 81,000 people live within a three-mile radius
of the center.
The HFF debt placement
team representing the borrower was led by managing director Ryan Ade.
“The quality of the
location and the strength of sponsorship led us to a successful loan placement
in a time of volatility with respect to interest rates,” Ade said.
For a
complete copy of the company’s news release, please contact:
Kristen M. Murphy
Director, Marketing
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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