Retail - Debt

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

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.