HFF Secures $34M Refinancing for Shops at Kingsbury Square
- Jan 08, 2015
By Ioana Neamt, Associate Editor
Mortgage broker HFF arranged a $34 million refinancing for Shops at Kingsbury Square, a prime retail property anchored by a flagship Whole Foods store in northern Chicago. According to a news release, HFF placed the 15-year, fixed-rate loan with State Farm Life Insurance Co. The team working on behalf of Deerfield-based CRM Properties Group was led by HFF managing director Daniel Kaufman and real estate analyst James Conley.
Shops at Kingsbury Square is a Class A, prime retail space located at 1550 North Kingsbury St. in the upscale Lincoln Park neighborhood. The 85,000-square-foot, LEED-certified property is anchored by a national Whole Foods flagship store, which benefits from an excellent location in the area known as North Clybourn, a major transportation and commercial hub in the southwestern part of Lincoln Park.
The two-story, prime retail asset offers 400 parking spaces, a sidewalk café on Kingsbury, a pedestrian river walk along the Chicago River, as well as 6,300 square feet of additional retail space. The building was completed in 2009, and is home to one of the largest Whole Foods stores in the United States.
“The Kingsbury Whole Foods is obviously one of the nation’s most significant urban retail assets and a model for Whole Foods,” Kaufman said in a statement. “It was a pleasure to work with the teams at CRM and State Farm to finance the property.”
Image courtesy of Whole Foods Market Chicago’s Facebook page
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