JLL Capital Markets announced that it has arranged a $20.5 million refinancing for Stafford Park, a 140,893-square-foot, high-performing, open-air shopping center in Stafford Township.
JLL worked on behalf of the borrower, Walters Group, in securing the five-year, fixed-rate loan through an investment manager.
Located at 215 Stafford Park Blvd., the property stands as the dominant open-air shopping center.
Located directly off Exit 63 of the Garden State Parkway, Stafford Park benefits from exceptional visibility, with over 33,600 vehicles passing daily. It has established itself as the most-visited shopping destination within a 15-mile radius, drawing more than 4 million visits over the past 12 months.
This strategic location combines high-traffic highway access with proven consumer draw, positioning it as a premier retail destination in the region.
JLL Capital Market’s Debt Advisory team representing the borrower was led by Senior Managing Director Jim Cadranell, Director Ryan Carroll and Analyst Christian Badalamenti.
“Stafford Park represents exactly the type of high-quality retail asset that attracts competitive financing in today’s market,” said Cadranell.
“The combination of 100% occupancy, strong national tenants and an affluent trade area with excellent highway visibility made this a compelling story for lenders, resulting in favorable terms for our client.”
The fully leased shopping center was developed by the borrower in 2007 and features a strong lineup of high-credit national brands, including Dick’s Sporting Goods, Best Buy, PetSmart and Ulta.
The property also benefits from premier shadow-anchors in Costco and Target, creating additional customer draw and cross-shopping opportunities.
