CBRE Arranges $18.4M in Financing for Shopping Center in Perth Amboy, New Jersey

by Taylor Williams

PERTH AMBOY, N.J. — CBRE has arranged $18.4 million in financing for ≈, a 91,280-square-foot shopping center located in the Northern New Jersey community of Perth Amboy. A 60,665-square-foot ShopRite grocery store anchors the center, which was fully leased at the time of the loan closing to 15 tenants with a weighted average remaining lease term of 6.1 years. Richard Henry, Mike Ryan, Blake Cohen and J.P. Cordeiro of CBRE arranged the loan on behalf of the owner, Sterling Organization. The direct lender was not disclosed.

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