JLL Capital Markets announced today that it has arranged $36.25 million in financing for Centerpoint on Mill, a 138,977-square-foot, Class A mixed-use complex in Tempe, Arizona.
JLL worked on behalf of the borrower, a joint venture partnership between Wexford Developments and Argosy Real Estate Partners, to secure the seven-year, fixed-rate acquisition loan through a national correspondent lender.
Centerpoint on Mill is an urban, pedestrian-oriented, mixed-use complex featuring 21,340 square feet of office space and 104,157 square feet of retail space, including an AMC movie theatre. Retail tenants at the fully leased center include Audacious Studios, PF Changs China Bistro, The Pita Pit, Fat Tuesday, House of Tacos, Five Guys Burgers and Fries and Great Clips, among others. Positioned on 6.19 acres at 640-740 S Mill Avenue, Centerpoint on Mill is located in the heart of downtown Tempe. This location is just steps from Arizona State University, one of the largest universities in the U.S. by student population, and is two blocks from the Valley Metro Rail, serving more than 50,000 riders daily.
The JLL Capital Markets team representing the borrower was led by Senior Managing Directors Jeremy Womack and Eric Tupler.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
