Doug Nickerson, vice president of NorthMarq's Boston regional office, and Greg Nalbandian, managing director of NorthMarq's northern New Jersey office, cooperated to arrange first mortgage financing of $44 million for Franklin Village Plaza, a 304,277 s/f mixed-use shopping center.
Financing was based on a 5-year term with a 30-year amortization schedule and was arranged for the borrower, CSC Franklin Village L.P., by NorthMarq through its correspondent relationship with Sun Life Assurance Company of Canada.
Franklin Village Plaza is situated on 32.07 acres and is located on Rte. 140 (W. Central St.) off of I-495. The grocery-anchored shopping center consists of 246,287 s/f of premier retail space and 57,990 s/f of office space. Tenants include Stop & Shop, Marshalls, British Beer Company and Panera Bread.
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.