Property Type Retail
Date January 18, 2016
Gantry, has arranged permanent financing in the amount of $3,800,000 for a 110,354 square foot grocery anchored shopping center located along the east side of Highway 260 (White Mountain Blvd) at Yeager Lane in Pinetop-Lakeside, Arizona. Timothy W. Storey, a Principal of Gantry, arranged this financing on behalf of the borrower through SCF Arizona/JPMorgan Chase, NA.
Gantry, has arranged permanent financing in the amount of $3,800,000 for a 110,354 square foot grocery anchored shopping center located along the east side of Highway 260 (White Mountain Blvd) at Yeager Lane in Pinetop-Lakeside, Arizona. Timothy W. Storey, a Principal of Gantry, arranged this financing on behalf of the borrower through SCF Arizona/JPMorgan Chase, NA. Specific terms of the loan were not disclosed. The security is anchored by a 40,157 square foot remodeled Safeway and an 11,250 square foot Family Dollar Store. The property was approximately 66% occupied at the time of the transaction. The high vacancy is due to two major tenant spaces (19,544 square foot former Sav-Mor Drugs and 10,000 square foot theater). Situated on 10.40 acres, the subject was built in 1982 and includes notable tenants such as Radio Shack, Subway, and Edward Jones. With offices in Phoenix, San Francisco, Sacramento, Los Angeles, Irvine, Seattle and Las Vegas, Gantry is a privately held full-service commercial mortgage banking firm that provides financing for incomeproducing properties. Gantry originates and services loans for its correspondent lenders and other insurance companies, pension funds, Wall Street conduits and commercial banks which are considered among the strongest and most active institutions in the real estate capital markets. For more information on this transaction please contact Timothy Storey at (602) 374-7854 or Michael Heagerty at (415) 956-9854.