Grocery-Anchored Juanita Tate Marketplace Secures Five-Year Loan

Optimus Properties, LLC closed on a $21.5-million financing of Juanita Tate Marketplace, a 77,096-square-foot grocery-anchored retail center on 6.63 acres in Los Angeles. A JLL Capital Markets team led by director Alex Olson and associate Daniel Skerrett represented Optimus in arranging the five-year interest-only loan through JP Morgan Asset Management.

“Juanita Tate Marketplace represented an exceptional and unique investment opportunity in one of the densest parts of Los Angeles,” said Olson. “The property has a fascinating history which included eminent domain development to remedy a longstanding food desert and a 17-year escrow process. Strong anchor tenants, diverse mix of national retailers, the strategic location and strong sponsorship contributed to its appeal in securing favorable financing terms.”

Built in 2014, Juanita Tate Marketplace is a high-performing retail center anchored by Northgate Market. The property is 100% leased to a diverse mix of tenants, including CVS, Panda Express, Starbucks and Chase Bank.

Inside The Story

JLL's Olson

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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