{"id":1004635678,"date":"2022-12-16T03:30:53","date_gmt":"2022-12-16T11:30:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004635678"},"modified":"2022-12-16T06:55:04","modified_gmt":"2022-12-16T14:55:04","slug":"maxxam-enterprises-gets-85m-for-los-angeles-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/maxxam-enterprises-gets-85m-for-los-angeles-retail-center\/","title":{"rendered":"Maxxam Enterprises Gets $85M Loan for Los Angeles Retail Center"},"content":{"rendered":"
\"\"<\/a>

Janss Marketplace<\/p><\/div>\n

Maxxam Enterprises <\/strong>has obtained a $84.7 million loan for the refinancing of Janss Marketplace, a 456,390-square-foot, grocery-anchored retail center in Thousand Oaks, Calif. Working on behalf of the borrower, JLL<\/strong> arranged the financing from TerraCotta Credit Fund LP<\/strong>.<\/p>\n

Built in phases between 1959 and 1999 as the city’s first shopping mall, Janss Marketplace underwent renovations in 2007 and 2020. Aldi anchors the 90 percent-occupied property that also has ULTA, Petco, Old Navy, Five Below and Golds Gym, among others, on its roster.<\/p>\n

\n

READ ALSO<\/strong>: Sizing Up Retail Real Estate\u2019s Prospects at ICSC<\/a><\/p>\n

\n

Located at 165-401 N. Moorpark Road, the asset is just north of Freeway 101, in a dense retail area that also includes Village at Moorpark and Village Court Shopping Center. Janss Marketplace has some 4 million visitors every year.<\/p>\n

JLL Senior Director Matt Stewart, Director Alethia Halamandaris and Analyst Chris Jaffe represented Maxxam in the deal.<\/p>\n

The comeback of retail<\/h2>\n

According to a U.S. Census Bureau report on retail and food services, retail trade was up 6.5 percent year-over-year as of November. Spending in grocery stores increased by 0.8 percent, despite rates slightly lagging October figures.<\/p>\n

As investments in grocery-anchored retail become more popular, new transactions close across the nation. Earlier this month, EDENS acquired three Los Angeles County shopping centers<\/a> for nearly $137 million.<\/p>\n

And, in October, First National Realty Partners bought two such assets<\/a>, totaling 445,000 square feet, in Northern Virginia and metro St. Louis. Both properties were more than 90 percent leased at the time of sale.<\/p>\n","protected":false},"excerpt":{"rendered":"

JLL secured the financing from TerraCotta Credit Fund LP.<\/p>\n","protected":false},"author":3006,"featured_media":1004635721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1594,21742,21749,15],"tags":[32796],"class_list":["post-1004635678","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-los-angeles","category-latest","category-retail","category-west","tag-jll"],"acf":[],"yoast_head":"\nMaxxam Enterprises Gets $85M Loan for Los Angeles Retail Center - CPE<\/title>\n<meta name=\"description\" content=\"Maxxam Enterprises landed a $84.7 million loan to refinance Janss Marketplace, a grocery-anchored retail center in Thousand Oaks, Calif.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/maxxam-enterprises-gets-85m-for-los-angeles-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Maxxam Enterprises Gets $85M Loan for Los Angeles Retail Center\" \/>\n<meta property=\"og:description\" content=\"Maxxam Enterprises landed a $84.7 million loan to refinance Janss Marketplace, a grocery-anchored retail center in Thousand Oaks, Calif.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/maxxam-enterprises-gets-85m-for-los-angeles-retail-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-16T11:30:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-16T14:55:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/12\/Janss-Marketplace-e1671185675919.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jordana Rothberg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/maxxam-enterprises-gets-85m-for-los-angeles-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/maxxam-enterprises-gets-85m-for-los-angeles-retail-center\/\",\"name\":\"Maxxam Enterprises Gets $85M Loan for Los Angeles Retail Center - 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