Continental Partners Arranges $11.3 Million Acquisition Loan for 102,782-Square-Foot Retail Asset in Nevada

CVS/pharmacy and Scolari’s Grocery anchors Mira Loma Shopping Center in Reno, Nevada. (Photo courtesy of LoopNet) CVS/pharmacy and Scolari’s Grocery anchors Mira Loma Shopping Center in Reno, Nevada. (Photo courtesy of LoopNet)

Reno, Nev. — Continental Partners has arranged an $11.3 million loan for the acquisition of Mira Loma Shopping Center in Reno.

CVS/pharmacy and Scolari’s Grocery anchor the 102,782-square-foot retail center, which was 92 percent leased at the time of sale. J.M. Grimaldi of Continental Partners arranged the loan on behalf of the borrower, a Los Angeles-based private investor. The borrower plans to implement light value-add renovations to the center, as well as remediate environmental contamination issues remaining due to a former tenant.

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