Northmarq’s New York Metro Debt + Equity team, led by Senior Vice President and Managing Director Robert Delitsky and Senior Vice President Charles Cotsalas, arranged $32 million in financing for Springnex Plaza, a 96,028-square-foot retail property located in Springfield Gardens, New York.
Northmarq arranged financing on behalf of the owner, Mattone Group Springnex LLC, through Principal Financial Group.
“Ownership developed Springnex Plaza in 2000 and they have done a fabulous job maintaining very strong occupancy,” Delitsky said.
“Supermarket anchored shopping centers like Springnex Plaza will continue to attract very strong lender interest in today’s market,” added Cotsalas.
Springnex Plaza is a 100% occupied, multi-tenant, grocery-anchored retail center situated on approximately 5.58 acres in the Queens submarket. Serving the Springfield Gardens community for more than two decades, Springnex Plaza offers a complementary mix of grocery, dining, healthcare and service-oriented tenants. Anchored by Stop & Shop, Springnex Plaza is home to a diverse roster of local and national retailers, including Ashley Stewart, IHOP Restaurant and Northwell Health.
