{"id":1004781108,"date":"2025-12-11T05:37:23","date_gmt":"2025-12-11T13:37:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004781108"},"modified":"2025-12-11T06:28:19","modified_gmt":"2025-12-11T14:28:19","slug":"alexanders-lands-175m-for-queens-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/alexanders-lands-175m-for-queens-retail-center\/","title":{"rendered":"Alexander\u2019s Lands $175M for Queens Retail Center"},"content":{"rendered":"\n

<\/p>\n\n\n

\n
\"Exterior<\/a>
Rego Park II rises three stories just off Interstate 495 in Queens, N.Y.
Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n

Alexander\u2019s Inc.\u2014an affiliate of Vornado Realty Trust\u2014has secured a $175 million refinancing loan for Rego Park II, a 615,000-square-foot retail center in New York City’s Queens borough.<\/p>\n\n\n\n

The interest-only note bears a 5.8 percent rate and has a maturity date set in December 2030.<\/p>\n\n\n\n

Proceeds retire a $198.5 million loan issued by Bank of China in 2018, Commercial Observer <\/em>wrote<\/a> at the time, that was slated to mature this December. Alexander\u2019s has already paid $23.5 million on that note.<\/p>\n\n\n\n

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READ ALSO: <\/strong>Top Commercial Mortgage Brokers<\/a><\/p>\n\n\n\n

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Commercial and multifamily mortgage loan originations went up<\/a> 36 percent year-over-year and 18 percent from the second quarter of 2025. This marks the fifth quarter in a row that registers growth in borrowing activity, according to the Mortgage Bankers Association’s third-quarter survey. Originations for retail properties increased by 100 percent over the year and by 141 percent over the quarter.<\/p>\n\n\n\n

A Queens shopping center<\/h2>\n\n\n\n

Developed by Vornado, Rego Park II came online in 2010 at 61-35 Junction Blvd. The three-story building is part of Rego Park Center, a mixed-use complex of more than 1.3 million square feet that also includes a residential tower.<\/p>\n\n\n\n

The LEED-certified low-rise is connected to a five-level car garage. The retail center’s tenant roster includes ALDI, Best Buy, Costco Wholesale, Marshalls, T.J.Maxx and Petco, among others.<\/p>\n\n\n\n

The 7-acre property is just off Interstate 495, close to the junction with New York State Route 25. Midtown Manhattan is 7 miles west. Rego Park II is across from Queens Center, a property of almost 1 million square feet that features JCPenney, Foot Locker, Gap, Bath & Body Works and Macy\u2019s.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Proceeds retire a loan issued by Bank of China in 2018.<\/p>\n","protected":false},"author":3619,"featured_media":1004781112,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,1600,21742,10,21749],"tags":[52400,33030],"class_list":["post-1004781108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-new-york","category-latest","category-northeast","category-retail","tag-alexanders","tag-vornado-realty-trust"],"acf":[],"yoast_head":"\nAlexander\u2019s Lands $175M for Queens Retail Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Alexander\u2019s Inc. has secured a $175 million refinancing loan for Rego Park II, a 615,000-square-foot retail center in Queens, N.Y.\" \/>\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\/alexanders-lands-175m-for-queens-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alexander\u2019s Lands $175M for Queens Retail Center\" \/>\n<meta property=\"og:description\" content=\"Alexander\u2019s Inc. has secured a $175 million refinancing loan for Rego Park II, a 615,000-square-foot retail center in Queens, N.Y.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/alexanders-lands-175m-for-queens-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=\"2025-12-11T13:37:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-11T14:28:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Rego-Park-II-in-Queens-NYC-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"640\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\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\/alexanders-lands-175m-for-queens-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/alexanders-lands-175m-for-queens-retail-center\/\",\"name\":\"Alexander\u2019s Lands $175M for Queens Retail Center - 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