CRE Midwest

HFF secures $15 million financing for grocery-anchored retail center in suburban Chicago

Main-Street-Marketplace
Mainstreet MarketplacePhoto by Chris OckenCopyright 2014 - http://www.ockenphotography.com/

Holliday Fenoglio Fowler, L.P. (HFF) announced that it has secured $15 million in financing for Main Street Marketplace, a 126,311-square-foot, grocery-anchored retail center in Evanston, Illinois.

Holliday Fenoglio Fowler, L.P. (HFF) announced that it has secured $15 million in financing for Main Street Marketplace, a 126,311-square-foot, grocery-anchored retail center in Evanston, Illinois.

HFF worked on behalf of the borrower, Kap-Sum Properties, LLC, an affiliate of Bond Companies, to place the seven-year, fixed-rate loan with a program managed by Ares Management LLC’s Real Estate Group.

Anchored by Food 4 Less and Marshalls, Main Street Marketplace is 96.9 percent leased to Planet Fitness, Little Wok, Great Clips, Sarpino's Pizzeria, Wing Stop, LifeSource Bank and the Food 4 Less Fuel Station.  Shadow-anchors Sam’s Club and Fifth Third Bank share the 546 surface parking spaces with the center’s tenants.  The property is situated on 12 acres at 2400-2438 Main Street in Evanston, Illinois, at the southeast corner of Main Street and McCormick Boulevard.

The HFF debt placement team representing the borrower was led by managing director Danny Kaufman and directors Amy Sands and Clinton Mitchell.

“It has been a pleasure working with the Bond Companies and Ares Management’s real estate lending team on this financing,” Kaufman said.  “Main Street Marketplace is a critical retail asset serving Evanston’s dense trade area.  The property is one of suburban Chicago’s best-performing grocery-anchored shopping centers.”