Styertowne-Shopping-Center

Cronheim Mortgage Arranges $20M Loan for Refinancing of Northern New Jersey Shopping Center

by Taylor Williams

CLIFTON, N.J. — Locally based financial intermediary Cronheim Mortgage has arranged a $20 million loan for the refinancing of Styertowne Shopping Center, a 236,000-square-foot retail property located in the Northern New Jersey community of Clifton. Stew Leonard’s Farm Fresh Food & Wine anchors the center, which was originally built in 1949. Other tenants include Michaels, Planet Fitness, Dollar Tree and GNC. Andrew Stewart, Dev Morris and Brandon Szwalbenest of Cronheim arranged the 10-year loan through Reinsurance Group of America on behalf of the undisclosed borrower.

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