West Belt Plaza at 57 State Route 23 in Wayne – Courtesy: HFF
By Joshua Burd
HFF has arranged $18.7 million in financing for an investor to acquire an 84,000-square-foot shopping center near the Willowbrook Mall in Wayne, the firm said Wednesday.
In a news release, the brokerage said it represented The Klein Group in securing the loan for West Belt Plaza, located at 57 State Route 23. An unidentified life insurance company is providing the 10-year, fixed-rate financing.
The 84,202-square-foot shopping center, which sits near the Interstate 80 and Route 46 interchange, was renovated in 2001 and is fully occupied, the news release said. Tenants include PetSmart, HomeGoods, Fidelity Brokerage and Starbucks.
The HFF debt placement team representing the borrower included senior managing directors Jon Mikula and Jim Cadranell.