News: Retail
Posted: October 25, 2024
Marcus & Millichap Capital Corp. arranges $5.41m financing of retail property
North Attleboro, MA Marcus & Millichap Capital Corp. (MMCC), a provider of commercial real estate capital markets financing solutions, arranged $5,414,500 for the refinancing of a retail property tenanted by CVS.
Chris Marks and Steve Filippo in MMCC’s Manhattan office secured the financing with a national bank on behalf of a northeast-based investment company.
“We were able to secure well-below-market rates for one of our repeat clients,” said Marks. “The market continues to have significant interest in well-located retail assets.”
Terms of the 10 year loan include a 5.29% fixed interest rate with 30-years amortization and a loan-to-value of 65%.
Tags:
Retail
MORE FROM Retail
Retail
McEvoy of Conrad Group facilitates $9.5m sale of Sterling Plaza
Randolph, MA Sterling Trust has sold its Sterling Plaza neighborhood retail site located at 45 Mazzeo Dr. to The Shops at Randolph, LLC. The property is home to several restaurants, including the West End Grill, The Well, Outback Steakhouse and It’s Game Time Sportsbar.
Columns and Thought Leadership
Village centers and local retail: What the market wants - by Carol Todreas
Good news! Brick and mortar is alive and well. Many malls are coming back. Americans are flocking to Europe to walk, shop, eat, and enjoy much needed vacations. Visitors return and talk about the pleasures of walking and shopping in local shops in cities and towns all over Europe.
Reimagining retail for the downtown - by Carol Todreas
Before COVID-19, downtown retail had been sliding downwards. A few restaurants and stores were hanging on, but the trajectory was headed south. Now with post- COVID-19 lifestyle changes, old-style retail anywhere has lost its market appeal.
Keeping the “there” there - by Carol Todreas
New zoning is a big topic for many communities. Whether it is to comply with the 2021 MBTA legislation calling for more multi-family housing in locales with access to T stations or to address other pressures from public-private entities, zoning for multi-family housing is believed to be a major part of the solution to the housing crisis.
Placemaking and retail in 2024 - by Carol Todreas
Placemaking. That is the word for 2024. While the concept has historical precedence in urban development, it became part of our current culture in the 1960’s when urbanists started to think about cities for people, not just cars.