Suburban Philly Retail Center Gets $18M Re-Fi
- Nov 17, 2015
By Ioana Neamt, Associate Editor
A 135,650-square-foot retail center in West Chester, Pa. has been refinanced with the help of HFF. The brokerage firm secured $18.5 million in refinancing for West Goshen Town Centre on behalf of Brandolini Cos. The permanent, fixed-rate loan was placed with an institutional lender.
Located on 17.6 acres at 1103-1115 West Chester Pike, the center is anchored by ShopRite and A.C. Moore, and also houses Panera Bread, AT&T, H&R Block, Sun East Federal Credit Union, GameStop, Massage Envy, and Applebee’s Neighborhood Grill.
The four-building, 100-percent leased center is adjacent to four multifamily communities totaling 968 units, and nearby major employers such as QVC’s global headquarters, Chester County Hospital and West Chester University.
An HFF team led by Managing Director Ryan Ade represented Brandolini in the deal.
“Having the market-leading grocer, ShopRite, as an anchor draw, West Goshen Town Centre occupies one of the best locations for retail in the western suburbs,” said Ade. “Lenders competed aggressively via the HFF process, and the end result was a best-in-market execution for our client, Brandolini.”
Photo courtesy of Brandolini Companies