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CBRE Group finishes $2.5 million mortgage refinancing for retail center

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The commercial real estate brokerage firm CBRE Group Inc.'s Debt & Structured Finance team has completed a $2.5 million mortgage refinancing secured by The Avenue Plaza, a retail center in New Hartford, N.Y.

Existing debt on the 168,561-square-foot retail center was refinanced by James Gunning, Donna Falzarano and Evan Kleppe, all of CBRE. The refinancing was arranged through a life insurance company on behalf of the borrower, Goodrich New Hartford LLC.

The Avenue Plaza, which is located on Commercial Drive and anchored by a Kmart, is currently 93 percent leased.

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Emily Bader

Emily Bader

Emily Bader is the copy and web editor at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com or @emilybader on Twitter.

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