Northmarq secures $32M financing for grocery-anchored retail property in Springfield Gardens, NY
Image credit: Robert Delitsky
SPRINGFIELD GARDENS, N.Y. — Northmarq’s New York Metro Debt + Equity team, led by Robert Delitsky and Charles Cotsalas, successfully arranged $32 million in financing for Springnex Plaza, a 96,028-square-foot retail property located in Springfield Gardens, New York.
Northmarq arranged financing on behalf of the owner, Mattone Group Springnex LLC, through Principal Financial Group.
“Ownership developed Springnex Plaza in 2000 and they have done a fabulous job maintaining very strong occupancy,” Delitsky said.
“Supermarket anchored shopping centers like Springnex Plaza will continue to attract very strong lender interest in today’s market,” added Cotsalas.
Springnex Plaza is a 100% occupied, multi-tenant, grocery-anchored retail center situated on approximately 5.58 acres in the Queens submarket.
Serving the Springfield Gardens community for more than two decades, Springnex Plaza offers a complementary mix of grocery, dining, healthcare and service-oriented tenants. Anchored by Stop & Shop, Springnex Plaza is home to a diverse roster of local and national retailers, including Ashley Stewart, IHOP Restaurant, and Northwell Health.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
