The Shoppes at the Livingston Circle at 277 Eisenhower Parkway in Livingston — Courtesy: HFF
By Joshua Burd
The owner of a grocery-anchored shopping center in Livingston has refinanced the nearly 96,000-square-foot property, following a transaction arranged by HFF.
The capital markets firm represented the borrower, Eastman Cos., in sourcing the debt for The Shoppes at the Livingston Circle at 277 Eisenhower Parkway. Voya Investment Management is providing the 12-year, fixed-rate loan, which the owner will use to refinance the existing debt.
The HFF debt placement team was led by senior managing directors Jon Mikula and Jim Cadranell, along with Analyst Andrew Zilenziger. Other terms of the deal were not disclosed.
Eastman, which developed the 95,809-square-foot property in 1993, has completed a multimillion-dollar renovation over the past two years, including upgrades to the façade and tenant spaces. Aldi anchors the 16.1-acre center, which is 80 percent leased to an array of service-oriented, lifestyle-focused national and local tenants.
Those operators include Olive Garden, Goldfish Swim School, Hand & Stone Massage and Facial Spa, Club Pilates and others.