JLL has secured a $27.25 million acquisition financing for Market Meadows, an institutional-quality grocery-anchored shopping center located in Naperville, Illinois.
JLL represented the borrower, Barings, in arranging a seven-year, fixed-rate loan through Principal Asset Management. JLL Capital Market’s Debt Advisory team, representing the borrower, was led by Senior Managing Directors Chris Drew and Travis Anderson, Managing Director Chris Knight, along with Director Wells Waller and Analyst Merrick Evans.
The 149,185-square-foot shopping center is 98.3% leased and anchored by a Jewel-Osco store. The retail center also features a diverse tenant mix of national and regional operators, including U.S. Bank, BMO Bank, T-Mobile, Chipotle, Jersey Mike’s Subs and McDonald’s.
“Market Meadows represents a high-performing asset with strong credit tenancy and limited rollover in one of the Chicago area’s most desirable retail locations,” said Knight. “The property’s recent redevelopment, excellent demographics and experienced institutional sponsorship made it an attractive financing opportunity.”
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