4C — January 30 - February 12, 2015 — Shopping Centers — M id A tlantic
Real Estate Journal
S hopping C enters
The non-recourse commercial mortgage transaction was structured with a 10-year term NorthMarq Capital’s finalizes a $1.35 million refinancing for a 6,216 s/f retail property
M ETHUEN, MA — James Murphy , managing director of NorthMarq Capital ’s Boston regional office secured $1.35 million in financing for a 6,216 s/f retail property located at 194 Haverhill St. in Methuen. The long-termnon-recourse commercial mortgage trans- action was structured with a 10-year term and 25-year amortization schedule. “The property is a two- tenant retail building located immediately off of I-95 as an out parcel of the Market Bas-
Divaris completes six retail leases totaling 51,199 s/f VIRGINIA BEACH, VA — Gerald Divaris , chairman and CEO of Divaris Real Es- tate, Inc. (DRE) , announced the following transactions: Mellow Mushroom leased 6,500 s/f of retail space at The Marketplace at Tech Center, located at 12070 Jefferson Ave., in Newport News. Erica Meekins Rorrer and Mary McGovern represented the landlord, The Marketplace at Tech Center, LLC. Taste leased 3,889 s/f of retail space at the Riverfront Shoppes, located at 5911 Har- bour View Blvd., in Suffolk. The lease negotiations were handled on behalf of the ten- ant by Sezin Cortinas . Pivot Point Complete Fit- ness, LLC leased 2,690 s/f of retail space at the Divaris- leased and –managed College Parkway Crossing, located at 6540 Hampton Roads Pkwy., in Suffolk. Lease negotiations were handled on behalf of the landlord, CTR Associates, L.L.P., by Levi Thomson and Melinda Pezzella . T-Mobile leased 2,385 s/f of retail space at Hilltop South, located at 1721 Laskin Rd., in Virginia Beach. The lease negotiations were handled on behalf of the tenant by Erica Meekins Rorrer. Food Lion renewed its lease for 29,000 s/f of retail space at the Divaris-leased and – managed Glenwood Shoppes, located at 8401 Hampton Blvd., in Norfolk. The lease negotiations were handled on behalf of the landlord, Midlan- tic Builders Glenwood, LLC, by David Bickford . Funny Bone Comedy Club renewed its lease for 6,735 s/f of retail space at the Divaris- leased and –managed Town Center of Virginia Beach, located at 217 Central Park Ave., in Virginia Beach. The lease negotiations were han- dled on behalf of the land- lord, Armada Hoffler Block 8 Associates, by Gerald Diva- ris, Mary McGovern, Sezin Cortinas and Erica Meekins Rorrer. n The lenders were quick to recognize the quality of the asset, location, tenancy and sponsorship. A regional bank stepped forward with a long- term non-recourse quote.” n
194 Haverhill St.
ket anchored Merrimac Plaza in Methuen,” said Murphy.
“We were pleased to be able to continue a relationship with
the borrower that has gone back more than 20-years.
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