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New York & Tri-State  + New Jersey  + Finance  | 
JLL arranged a $43-million refinancing for a Woodbridge, NJ retail center anchored by a ShopRite supermarket

JLL Lines Up $43M Refi for ShopRite-Anchored Woodbridge Retail

JLL Capital Markets closed the $43.2-million refinancing of St. Georges Crossing, a 343,423-square-foot, ShopRite-anchored shopping center located in Woodbridge, NJ. Senior managing directors Jim Cadranell and Gregory Nalbandian and analyst Salvatore Buzzerio represented the landlord, Levin Properties, L.P., to secure the 12-year, fixed-rate loan through PGIM Real Estate. 

Located at 855 St. Georges Ave., St. Georges Crossing is currently 100% occupied and anchored by ShopRite, P.C. Richard & Son, PetSmart and TJ Maxx. The property benefits from long-term tenant tenure of more than 15 years from 11 tenants and a weighted average lease term of 5.42 years.   

“There was no shortage of interest to finance this super-dominant, Shoprite-anchored center as lenders look to diversify their portfolios outside of multi-housing and industrial properties,” said Nalbandian. “PGIM delivered a long-term 12-year, fixed-rate financing at a very attractive interest rate that met all of the borrower’s objectives.” 


Inside The Story

JLL's Nalbandian

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-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 15-20 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 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).