JLL Capital Markets arranges $12 million refinancing for the 105,700-square-foot Mission Promenade in Oceanside, CA

Mission Promenade, a 105,700-square-foot, dual grocery-anchored shopping center  in Oceanside, CA.

 

IRVINE, CA – JLL Capital Markets has arranged the $12.05 million refinancing of Mission Promenade, a 105,700-square-foot, dual grocery-anchored shopping center located within the San Diego area in Oceanside, California.

 

JLL represented the borrower, Milan Capital Management, to secure the ten-year loan through regional bank.

 

The JLL team that represented the borrower was led by Senior Managing Director Jeff Sause and Managing Director John Chun.

 

Jeff Sause

Built in 1972 and renovated in 1999, Mission Promenade is currently 97% occupied to a diverse mix of national and regional tenants.

 

It is grocery-anchored by El Super, a Latino supermarket chain, as well as a grocery outlet, which combined account for roughly 59% of the total rentable square feet and 66% of the total net operating income.

 

 It is also anchored by a 22,000-square-foot dd's Discounts (part of Ross Dress for Less).

John Chun

       

 

Situated at 1527-1547 Mission Ave., the center is located on an infill, 9.5-acre site along the primary commercial corridor of Mission Avenue.

 

Set 1.1 miles from the intersection of the I-5 and CA-76, as well as 1.3 miles from the Pacific Ocean, the property is strategically positioned adjacent to major arterial transportation nodes that offer excellent accessibility to the Greater San Diego region, Orange County and the Inland Empire.

 

Additionally, Mission Promenade is just 1.2 miles east of the Oceanside Transit Center, a major railway interchange serving both intercity and commuter services. Area demographics are robust, with a population of nearly 180,000 within a five-mile radius and a median household income of $75,600.

 

 CONTACT:

 

 

Jenna Sharp

JLL, Public Relations

Dallas, Texas

M +1 214 394 3356

Jenna.Sharp@jll.com

 

JLL Capital Markets brokers $21 million sale of fully occupied small bay industrial property in Piscataway, NJ.

 

SOLD: 140 Ethel Road., a multi-tenant warehouse

 totaling 108,875 square feet in Piscataway, NJ

 

MORRISTOWN, NJ -- JLL Capital Markets has closed the $21.2 million sale of 140 Ethel Rd., a multi-tenant warehouse totaling 108,875 square feet in Piscataway, New Jersey.

 

Marc Duval

JLL represented the seller and procured the buyer.

 

140 Ethel Rd. is fully occupied by 19 unique tenants spanning various industries including logistics, food and beverage, light fulfilment and warehousing. 

 

Key features of the property include a 24-foot clear height along with 24 loading docks, 2 drive-in doors, and 83 parking spaces.

 

The property is located in Northern New Jersey, within the Exit 10 submarket, the third largest submarket in New Jersey.

Jordan Avanzato

140 Ethel is within close proximity to the major tri-state area commuting highways including three miles from Interstate 287 and seven miles from Interstate 95.

 

The JLL Capital Markets Investment Sales team representing the seller was led by Managing Directors Marc Duval and Jordan Avanzato, Directors Nicholas Stefans and Jason Lundy and Senior Managing Director Jose Cruz.

 

“This opportunity was extremely well received as investment into multi-tenanted, short-term WALT remains a top-choice asset class for investors,” commented Duval.

 Nicholas Stefans

“By leveraging the diversified rent roll and committed tenancy with the infill location of the asset, we were able to achieve a successful execution for all parties involved,” added Avanzato.

 

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 sales and advisory, debt advisory, equity advisory or a recapitalization.

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

Jason Lundy 

For more news, videos and research resources, please visit JLL’s newsroom.

 About JLL

For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. 

A Fortune 500 company with annual revenue of $20.9 billion and operations in over 80 countries around the world, our more than 103,000 employees bring the power of a global platform combined with local expertise. 

Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.

 

  

 CONTACT:

 

Alli Semans,

PR Associate

Phone: +1 330 329 6750

Email: Alli.Semans@jll.com

 

jll.com.