Joseph Hegenbart, managing director, at NorthMarq's Boston regional office, arranged mortgage financing of $12 million for Stow Shopping Center, located on Great Rd. (Rte. 117). The loan was arranged for the borrower, Linear Retail Properties, by NorthMarq through its correspondent relationship with Sun Life Assurance Company of Canada.
Stow Shopping Center consists of 123,842 s/f of retail space in two buildings. Lead tenants include Shaw's Supermarket, Ace Hardware, Citizens Bank, Pet Source, Global Fitness, Red Ginger Restaurant, Dunkin Donuts and Papa Gino's.
The town is a residential community in the western Boston suburbs located between Rte. 128 and I-495. Linear Retail is a leading acquirer of retail properties in New England and currently owns and operates 55 shopping centers and other retail properties.
NorthMarq, headquartered in Minneapolis, offers commercial real estate services for investors, developers, corporations and tenants. The company provides mortgage banking and commercial loan servicing in 32 offices coast-to-coast, with an average of $7 billion in annual production volume and services a loan portfolio of nearly $40 billion. NorthMarq manages more than 60 million sq. ft. of retail, industrial and office space in 22 markets around the country and handles more than 7,500 leasing, sales and mortgage banking transactions annually. For more information, please visit www.northmarq.com.