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JLL Arranges $42M for Jewel-Osco Anchored Retail Center in Wheaton
JLL has secured a $41.65 million financing of Danada Square West, a 314,819-square-foot grocery-anchored shopping center in Wheaton, Illinois.
JLL represented the borrower, DLC, in arranging the five-year, fixed-rate loan. The firm’s Capital Market’s Debt Advisory team, which represented the borrower, was led by Senior Managing Director Scott Aiese, Managing Director Christopher Knight and Director Alex Staikos.
Danada Square West, at 120 Danada Square W., is located in DuPage County, approximately 30 miles west of downtown Chicago. Constructed in 1988, the property is currently at a 92.7% occupancy rate. The center is anchored by a top-performing Jewel-Osco grocery store, a loyal tenant for more than 37 years.
“The financing of Danada Square West demonstrates the continued strong appetite for well-positioned, grocery-anchored retail assets in affluent suburban markets,” Aiese said. “The property’s high-performing Jewel-Osco anchor, diverse national tenant mix and prime location in DuPage County attracted significant interest from lenders, resulting in favorable terms for our client.”
