The Wallington Plaza, a 94,297-square-foot shopping center located at 375 Paterson Ave in Wallington, NJ, 07057, has secured a $16.5 million loan for refinancing. The property is home to a ShopRite grocery store, along with other tenants such as a pet supplies store and a liquor store. The loan was arranged by Robert Ranieri of NorthMarq on behalf of the borrower.

Summary of transation details:

• Property Type: Retail
• Transaction Amount: $16,500,000.00
• Market: Wallington
• Borrower's Rep: Robert Ranieri(NorthMarq)
• Lender: Unknown life insurance company
• Loan Details: Floating interest rate, seven-year term, 30-year amortization schedule

The loan for Wallington Plaza was provided by a local bank and stands as a permanent loan for the shopping center. The property's anchor tenant is the ShopRite grocery store, bringing convenience to the local community. Robert Ranieri's role as the borrower's representative was crucial in securing the financing for the property.