Holliday Fenoglio Fowler LP announced it has arranged $25.5 million in acquisition financing for Woodbridge Crossing, a 285,211-square-foot center located Woodbridge.
The HFF team worked on behalf of the borrower, PAG Investments, to place the five-year, fixed-rate loan with Citizens Bank.
Woodbridge Crossing was completed in 2001 and renovated in 2018. Nearly 80 percent leased, the center is home to a variety of national and regional tenants, including Burlington Stores, Big Lots, Planet Fitness, Altitude Trampoline Park, Modell’s, Party City, Thomasville, Sprint, Miracle Ear and FedEx Office.
Situated on over 19 acres in one of New Jersey’s prime retail corridors, Woodbridge Crossing is in the North Edison/Woodbridge Retail submarket adjacent to the intersection of U.S. Routes 1 and 9, exposing the center to approximately 85,000 vehicles per day, HFF said.
The HFF debt placement team representing the borrower included Managing Director Michael Klein and Managing Director Rob Hinckley.