NorthMarq negotiates $6.55 million refinance of Kennedy Center in Tampa, Florida

Kennedy Center

Debt & Equity

Multi-Tenant

TAMPA, FLORIDA (January 15, 2020) – Bob Hernandez, managing director and Lauren Hanley, vice president of NorthMarq’s Tampa office collaborated to arrange the $6.55 million refinance of Kennedy Center. The property is located at 4001 West Kennedy Boulevard in Tampa’s Westshore district.

The strip center was originally built in 1970, completely rehabbed in 2018, and features a total of 19,300 sq. ft. Property features include: Pylon sign, dedicated turn lane, ample parking, easy access to I-275 and Veteran’s Expressway, and a location a few miles from the Westshore Plaza and Bay Street. Selected tenants at this property include: La Segunda Bakery, Nekter Juice Bar, T-Mobile, Metro Diner, Noire Nail Salon, uBreakiFix.

“The sponsors did a great job redesigning and rehabbing the existing center, which allowed them to receive top of the market lease rates.”

- Bob Hernandez

Financing Details:
- 10-year term
- 30-year amortization schedule
- The sponsor and lender worked tirelessly to close the loan within 30 days, prior to year-end.

View Available Shopping Center Listings

About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.