South Portland, ME Holliday Fenoglio Fowler, L.P. (HFF) has closed the $16.5 million sale and secured $12.635 million in financing for Mallside Plaza, a 98,948 s/f shopping center.
HFF marketed the property on behalf of the seller, Kimco Realty Corp., and procured the buyer, Northeast Capital Group of Rampo, N.Y. Additionally, HFF worked on behalf of the new owner to secure a 10-year, fixed-rate acquisition loan through Katahdin Trust Company.
Located at 198 Maine Mall Rd., Mallside Plaza has direct visibility from I-95 and is adjacent to the super regional Maine Mall, which extends the property’s trade area out to 30 miles and more than 460,000 people. The fully leased property is anchored by DSW Shoe Warehouse, Five Below, Guitar Center, Dollar Tree and Mattress Firm and is shadow-anchored by Dick’s Sporting Goods. The sale also included an outparcel single-tenant building net leased to a top-performing Five Guys Burgers.
The HFF investment sales team representing the seller was led by senior managing director Jim Koury.
HFF’s debt placement team was led by senior director Porter Terry.