Saugus Plaza Shopping Center
Saugus Shopping Plaza Secures $33 Million Financing
JLL Capital Markets arranged a $33.56 million refinancing for Saugus Plaza Shopping Center. Finard Properties was able to secure a fixed-rate loan with HarborOne Bank as agent and Salem Five as co-lender.
“While the pandemic has created significant challenges in the retail market, it is important to note that the availability of capital remains intact for well-located, anchored retail,” JLL Managing Director Brett Paulsrud said. “The strength of the Finard sponsorship, historic performance of the center and diverse mix of tenants generated strong interest from the lending community.”
The 207,104 SF shopping center off Route 1 in Saugus, MA features a Kohl’s, Petco, Dr. Dental, Carter’s, Title Boxing, and Work-N-Gear. The plaza was constructed in 1972.