Holliday Fenoglio Fowler L.P. announced Wednesday it has arranged $25.5 million in acquisition financing for a 285,000-square-foot retail center in Woodbridge.
HFF’s team of Michael Klein and Rob Hinckley, both managing directors, worked on behalf of the borrower, PAG Investments, to place a five-year, fixed-rate loan with Citizens Bank.
The 285,210-square-foot Woodbridge Crossing was completed in 2001 and recently renovated in 2018. The center, which is about 80 percent leased, is home to a variety of national and regional tenants, including Burlington Stores, Big Lots, Planet Fitness, Altitude Trampoline Park, Modell’s, Party City, Thomasville, Sprint, Miracle Ear and FedEx Office.
The property is comprised of 285,210 square feet and sits on 19.09 acres at 451-479 Green St. It is within close access to routes 1 and 9.
“HFF is pleased to have helped PAG Investments secure financing once again,” Klein said. “PAG had a unique opportunity to acquire a value-add retail center in one of the state’s primary retail corridors. In a short time, PAG Investments will be able to execute its business plan and stabilize the center.”