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.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
