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California  + Los Angeles  + Retail  | 

Grocery-Anchored LA Center Scores $32M Financing

JLL Capital Markets secured a $32-million senior financing for Crenshaw Plaza, a 146,901-square-foot grocery-anchored retail center located in Los Angeles. JLL represented the borrower, a joint venture between the principals of 21 Alpha Group and Intelligent Design Real Estate, in arranging the three-year, floating-rate loan through Forbright Bank.

The JLL Capital Markets Debt Advisory team representing the borrower was led by director Spencer Bergthold, senior managing director Charles Halladay and associate Daniel Skerrett. Loan proceeds will be used to refinance the existing loan, cover closing costs and fund future leasing expenses.

Crenshaw Plaza is located at 3210 W Slauson Ave., at the intersection of West Slauson Avenue and Crenshaw Boulevard, which see a combined traffic volume of more than 72,000 vehicles per day. The property is also adjacent to the Hyde Park Station on the new Metro Rail System. Originally built in 1967 and renovated in 2004, Crenshaw Plaza is currently 97% leased.

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JLL's Bergthold

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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