Monday, October 4, 2010

Northern New Jersey retail center receives $15.3 million acquisition financing arranged by HFF

FLORHAM PARK, NJ – The New Jersey office of HFF (Holliday Fenoglio Fowler, L.P.) announced today that it has arranged $15.3 million in financing for The Streets of Chester, (top left photo) a 104,682-square-foot retail center in Chester, New Jersey.
Working exclusively on behalf of Core Plus Partners LLC, HFF senior managing director Jon Mikula (middle right photo)  placed the fixed-rate loan with Starwood Capital.  Loan proceeds were used to acquire the property. 

Completed in 2006, The Streets of Chester consists of two single-story buildings that are 92% occupied by tenants including Talbots, The Gap, Ann Taylor, Chico’s, J Crew, White House/Black Market, Banana Republic, Coach and Coldwater Creek.  The property is situated on a 12.9-acre site at 128 Route 206 South across the street from Chester Springs Shopping Center in Chester’s central business district.
“An affluent consumer base, lack of competition and its location on a high traffic corridor makes The Streets of Chester a desired locale for a wide array of retailers,” said Mikula.
Core Plus Partners, LLC is a private real estate investment and management company headquartered in Stamford, Connecticut.  The company focuses on Class A and B commercial office and retail properties in the central business districts and metropolitan areas of the Northeast and Mid-Atlantic states.


Jon Mikula, HFF Senior Managing Director,  (973) 549-2007, 
Kristen Murphy, HFF Associate Director, Marketing, (713) 852-3500,

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