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JLL Secures Refi for Oceanside Shopping Center
JLL Capital Markets arranged the $12.05-million refinancing of Mission Promenade, a 105,700-square-foot, dual grocery-anchored shopping center located within the San Diego area in Oceanside. Senior managing director Jeff Sause and managing director John Chun represented the borrower, Milan Capital Management, to secure the 10-year loan through a regional bank.
Built in 1972 and renovated in 1999, Mission Promenade is currently 97% occupied to a diverse mix of national and regional tenants. It is grocery-anchored by El Super, a Latino supermarket chain, along with a grocery outlet, which combined account for roughly 59% of the total rentable square feet and 66% of the total net operating income. It is also anchored by a 22,000-square-foot dd’s Discounts (part of Ross Dress for Less).
Situated at 1527-1547 Mission Ave., the center is located on an infill, 9.5-acre site along the primary commercial corridor of Mission Avenue.
- ◦Financing





