$23 Million Secured in Refinancing for Retail Shopping Center in Toms River, NJ
Toms River, NJ – Brad Domenico secured $23,000,000 in refinancing for a retail shopping center located at 2360 Lakewood Road, Toms River, NJ.
The 108,000 SF building is anchored by tenants such as Stop & Shop Supermarket, Dollar Tree Store, Pet Valu, Starbucks and McDonald’s. The property is located at a strong intersection of Route 9 and Route 70, which extends 60 miles from Monmouth County to Camden County. Additionally, its prime location lies between Brick Township, Lakewood Township and Toms River Township, all of which are known as the top 3 populous municipalities in Ocean County, NJ.
Brad worked with Lakeland Bank to negotiate a favorable interest rate fixed for 7 years with 30- year amortization. The client’s request for a Non-Recourse loan was also included in the terms.
Progress Capital is a commercial real estate advisory company serving clients since 1990. With over $40 Billion in closed loans and $150 Million of directly funded bridge loans, we will get you to the closing table… Plain and Simple. #thatsProgress