Kitson & Partners Secures $17.7 Million Refinancing For Publix-Anchored Shopping Center In Punta Gorda

The asset involved in this transaction is Crescent B Commons, a retail property located at 42031 Cypress Parkway in Punta Gorda, which encompasses 84,410 square feet and is fully leased. The shopping center is anchored by Publix and features 18 tenants, boasting an average lease term of 11.9 years and attracting approximately 1.1 million annual visits, with the local retail vacancy rate at 3.2%.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $17,700,000
• Loan Amount: $17,700,000
• Loan Type: Refinance
• Market: Punta Gorda
• Lender: Nationwide
• Landlord: Syd Kitson - Kitson & Partners
• Brokers: Richard Henry, Mike Ryan, Blake Cohen & Taylor Crowder - CBRE

Kitson & Partners secured the refinancing through Nationwide, with CBRE's Richard Henry, Michael Ryan, Blake Cohen, and Taylor Crowder representing the landlord in this transaction.