Done Deals: Mar 12, 2024

Tuesday, March 12, 2024

JLL Capital Markets arranges $5 million refinancing for Phoenix retail center

Camelback East Shops, a 25,129-SF
neighborhood retail center in Phoenix, AZ

DENVER, CO –  JLL Capital Markets has arranged a $5.3 million refinancing for Camelback East Shops, a 25,129-square-foot neighborhood retail center in Phoenix, Arizona.

Located on the southeast corner of 32nd St. and Camelback Rd., Camelback East Shops is leased to a diverse roster of tenants including popular local restaurants, Tarbell’s and First Watch, along with long-standing retailers like Van’s Golf Shops.

Allan Okabe

The MDC Realty Advisors team was led by one of its principals, Allan Okabe, who remarked, “32nd Street and Camelback has been a core, stable asset for MDC since we acquired it over 10 years ago.

"This high-profile corner within the Camelback Corridor of Phoenix, AZ provides our tenants with high-level exposure and instant recognition throughout the region.

Will Haass

"We are excited about the opportunity to upgrade and re-tenant this unique asset and wish to thank JLL for their efforts in completing this refinancing.”

The JLL Capital Markets team was led by Director Will Haass and Executive Managing Director Eric Tupler.

Eric Tupler

“MDC has had this gem of a retail asset in their portfolio for several years and done a phenomenal job positioning it in the submarket,” said Haass. “We look forward to their continued success bringing new concepts into the center and the greater community.”

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

CONTACT:

Jenna Sharp

JLL, Public Relations

Capital Markets

Dallas, TX

M +1 214 394 3356

Jenna.Sharp@jll.com

jll.com

www.mdcra.com

Kim Flores

MIAMI, FL – JLL Capital Markets announced it was an advisor on the $74.5 million sale of Key Plaza Shopping Center, a 230,970-square-foot, Publix-anchored retail center located in Key West, Florida.

JLL advised the seller, and Publix Super Markets, Inc. acquired the asset.

The JLL Retail Capital Markets team that advised the seller was led by Executive Managing Director Manny DeZarraga, Senior Managing Director Danny Finkle, Senior Directors Eric Williams and Jorge Portela and Vice President Kim Flores.

Manny DeZarraga

Situated at 1107 Key Plaza, the property is known as a leading grocery-anchored power center within Key West. In addition to being anchored by Publix, tenants include OfficeMax, Dollar Tree and more. In addition, the property benefits from easy access to US1/North Roosevelt Boulevard.

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 and sales 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.

Danny Finkle

For more news, videos and research resources on JLL, please visit our 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 $20.8 billion and operations in over 80 countries around the world, our more than 106,000 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.