{"id":1004140527,"date":"2016-03-31T05:56:07","date_gmt":"2016-03-31T13:56:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004140527"},"modified":"2022-12-06T05:02:52","modified_gmt":"2022-12-06T13:02:52","slug":"hff-arranges-financing-for-retail-center-near-phoenix","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hff-arranges-financing-for-retail-center-near-phoenix\/","title":{"rendered":"HFF Arranges Financing for Retail Center Near Phoenix"},"content":{"rendered":"<p><i>By Adelina Osan, Associate Editor<\/i><\/p>\n<p><strong>Phoenix<\/strong>\u2014HFF recently arranged a $6.3 million <a href=\"https:\/\/www.commercialsearch.com\/news\/finance\/\" target=\"_blank\" rel=\"noopener\">financing<\/a> for the acquisition of Marketplace at Signal Butte, an 116,358-square-foot grocery-anchored community <a href=\"https:\/\/www.commercialsearch.com\/news\/retail\/\" target=\"_blank\" rel=\"noopener\">shopping center<\/a> in the eastern part of Mesa, Arizona.<\/p>\n<div id=\"attachment_1004140528\" style=\"width: 224px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Greg-Brown-director-at-HFF.png\"><img decoding=\"async\" aria-describedby=\"caption-attachment-1004140528\" data-attachment-id=\"1004140528\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hff-arranges-financing-for-retail-center-near-phoenix\/greg-brown-director-at-hff\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Greg-Brown-director-at-HFF.png\" data-orig-size=\"300,420\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Greg Brown, director at HFF\" data-image-description=\"&lt;p&gt;Greg Brown, director at HFF&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Greg Brown, director at HFF&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Greg-Brown-director-at-HFF.png?w=300\" loading=\"lazy\" class=\"size-medium wp-image-1004140528\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Greg-Brown-director-at-HFF.png\" alt=\"Greg Brown, director at HFF\" width=\"214\" height=\"300\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Greg-Brown-director-at-HFF.png 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Greg-Brown-director-at-HFF.png?resize=214,300 214w\" sizes=\"auto, (max-width: 214px) 100vw, 214px\" \/><\/a><p id=\"caption-attachment-1004140528\" class=\"wp-caption-text\">Greg Brown, director at HFF<\/p><\/div>\n<p>HFF worked on behalf of the borrower, Progression REI, to place the 10-year, fixed-rate loan with Wells Fargo Bank.\u00a0Director Greg Brown led HFF\u2019s debt placement team representing Progression REI.<\/p>\n<p>Anchored by Arizona-based grocery store chain Basha\u2019s, Marketplace at Signal Butte is situated on 12 acres at the southwest corner of Signal Butte Road and Main Street, one of the original east-west corridors in the southeast valley. More than 83,000 residents live within a three-mile radius of the center.\u00a0Brands such as Big 5 Sporting Goods, Denny\u2019s, Dollar General, Golden China, Sunrise Daycare, US Nail Spa, Edward Jones, Papa John&#8217;s Pizza and H&amp;R Block are tenants at Marketplace at Signal Butte.<\/p>\n<p>\u201cOur team at HFF was able to provide our client with an excellent fixed-rate financing solution during a challenging time in the capital markets as a result of our strategic lender relationships,\u201d said Brown in prepared remarks.<\/p>\n<p>&#8220;We are grateful to HFF and Wells Fargo Bank for supporting our investment in this well-located and well-designed property with a strong mix of retailers, high current returns and opportunity to grow its value,\u201d said Jim Howard, managing director of Progression REI.<\/p>\n<p><em>Image courtesy of HFF<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Progression REI acquired a 116,358-square-foot grocery-anchored shopping center near Phoenix thanks to a $6.3 million fix-rate loan with Wells Fargo Bank arranged by HFF. <\/p>\n","protected":false},"author":735,"featured_media":1004140528,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,1601,21749,15],"tags":[],"class_list":["post-1004140527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-phoenix","category-retail","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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