Progress Capital Arranges $7 Million Acquisition Loan for Villa Plaza in Bridgewater
Brad Domenico and Eddie Miro of Progress Capital secured $7,070,000 in acquisition financing with First Commerce Bank, for Woodcrest Properties to purchase Villa Plaza, a 52,600 square-foot retail center located along Route 28, Bridgewater, NJ.
Villa Plaza is a well-maintained shopping center built in 1996, anchored by a 17,500 square-foot Gold’s Gym, a recently improved 20,000 square foot PNC Bank, along with a diverse tenant mix of various restaurants and retailers. Situated along a prime retail corridor with notable nearby businesses including the popular Bridgewater Commons shopping mall, which offers an array of theaters, retailers, services, and eateries. Nearby recreation points include North Brand Park, Washington Valley Park and Green Knoll Golf Course.
Located in the heart of central New Jersey, Bridgewater is a relatively large, generally upscale town that sports a diverse community. A suburb of New York City that offers both a convenient commercial area, while sprawling residential neighborhoods filled with tree-lined streets and a blend of cozy swanky apartments and houses. The township is renowned for its excellent public schools, easily-accessible shopping and conveniences, a commuter railroad station to Newark and New York City, a robust local job market, and proximity to cultural and sporting venues and outdoor recreation. The city’s small-town feel sets it apart from others in the region, making it the ideal suburban spot for families and city commuters.
Since 1990, Progress Capital has closed over $40 Billion in commercial loans and $150 Million in directly funded bridge loans. As a commercial real estate advisory firm, we can advise you on any real estate investment you are considering and provide the financing advice you need to manage through the commercial real estate acquisition and/or financing process. We consistently get our clients to the closing table… plain and simple!