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| Fairmont Shopping Center, 705-799 Hickey Boulevard, Pacifica, CA |
JLL worked on behalf of the borrower, GRI Fairmont, LLC, an affiliate of First Washington Realty, Inc., to place the 10-year, fixed-rate loan with PGIM Real Estate Finance.
Anchored by a high-performing Safeway, the 96%-leased Fairmont Shopping Center is also home to an internet-resistant tenant lineup, including Rite Aid, Dollar Tree, Supercuts, Banfield Pet Hospital, American Sushi House, Starbucks, Southland Nails, Ernie’s Wine & Liquor and Rockway Beach Optometry.
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| Greg Brown |
Completed in 1966, the retail center was remodeled in 2015 and 2018. Fairmont Shopping Center is situated on 7.46 acres at 705-799 Hickey Boulevard in Pacifica, a coastal community between San Francisco and Half Moon Bay.
It is at the high-traffic intersection of Hickey and Skyline Boulevards, where it is visible to approximately 45,860 vehicles per day.
Less than half a mile south of the Pacific Coast Highway, the retail center is in a growing trade area with an anticipated population increase of 4.2% over the next five years, and more than 163,953 residents earning an average annual household income of $134,610 live within a three-mile radius of the property.
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| John Marshall |
“JLL was able to negotiate attractive loan terms and found the ideal lender for this asset,” said Daniel Radek, President of First Washington Realty. “The transaction went very smoothly, and we could not be more pleased with the outcome.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.
The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization.
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| Bercut Smith |
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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license#01223413.
Contacts:
Greg Brown
California License #: 01335204
Phone: +1 949 253 8800
Kimberly Steele
JLL Digital Content/PR Specialist
JLL Digital Content/PR Specialist
Phone: +1 713 852 3420
