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| Crossroads of Taylorville Retail Center, Taylorsville, UT |
DALLAS, TX –– Holliday Fenoglio Fowler, L.P. (HFF)
announces the $69 million refinancing of Crossroads of Taylorsville, a
726,306-square-foot retail center with national, big-box anchors in the Salt
Lake City-area community of Taylorsville, Utah.
The HFF team worked on behalf of the borrower, Dallas-based
TriGate Capital, LLC, to place the three-year, floating-rate loan with
NexBank. Loan proceeds will be used to refinance the current loan amount,
provide capital for tenant improvements and leasing commissions to fully
stabilize the asset and allow TriGate to complete its business plan.
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| Jim Curtin |
Crossroads of Taylorsville is situated on 68.36 acres at 5400
South and Redwood Road in Taylorsville, which is about 10 miles south of
downtown Salt Lake City.
With approximately 104,000 vehicles per day, the
5400 South and Redwood Road intersection is the most trafficked intersection in
Utah, and the property is also adjacent to Interstate 215, which exposes the
center to an additional 92,000 vehicles a day.
Crossroads of Taylorsville
is home to Shopko, Jo-Ann, FYE, Ross Dress for Less, 24-Hour Fitness, PetSmart,
Guitar Center, T.J.Maxx and a new Regal Cinemas, among other tenants.
Additionally, the center is shadow anchored by a Harmons supermarket and a
Starbucks. Completed in 1979, TriGate acquired the shopping center in
2014 and recently completed extensive renovations that added the Regal theater
and attracted new national retailers and restaurants to the submarket.
The HFF debt placement team representing the borrower consisted of
managing director Jim Curtin.
CONTACTS:
JIM CURTIN
HFF Managing Director
(214) 265-0880
KIMBERLY STEELE
HFF Digital Content/Public Relations Specialist
(713) 852-3420
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