Northmarq’s New York Metro Debt + Equity team, led by Robert Delitsky and Charles Cotsalas, arranged $32 million in financing for Springnex Plaza, a 96,028-square-foot retail property located in the Springfield Gardens neighborhood of Queens. Delitsky and Cotsalas arranged financing on behalf of the owner, Mattone Group Springnex LLC, through Principal Financial Group.
“Ownership developed Springnex Plaza in 2000 and they have done a fabulous job maintaining very strong occupancy,” Delitsky said.
“Supermarket-anchored shopping centers like Springnex Plaza will continue to attract very strong lender interest in today’s market,” added Cotsalas.
Springnex Plaza is a 100% occupied, multi-tenant, grocery-anchored retail center situated on approximately 5.58 acres. Serving the Springfield Gardens community for more than two decades, Springnex Plaza offers a complementary mix of grocery, dining, healthcare and service-oriented tenants. Anchored by Stop & Shop, it’s home to a diverse roster of local and national retailers, including Ashley Stewart, IHOP and Northwell Health.
