Bear, Del. — HFF has secured a $35 million refinancing for Governor’s Square Shopping Center, a 294,213-square-foot shopping center located in the Wilmington suburb of Bear.
ShopRite anchors the center, which is also home to tenants including Kmart, American Signature Furniture, Rite Aid, Sneaker Villa, H&R Block, Karate for Kids, Radio Shack, Bear Chiropractic, Subway and GameStop. The property is also home to three pad sites occupied by Wells Fargo, Taco Bell and McDonald’s.
Ryan Ade of HFF worked on behalf of the borrower, Delle Donne & Associates Inc., to secure a new, permanent, fixed-rate loan with an institutional lender. Loan proceeds will be used to retire existing indebtedness.