Updated Oct 20, 2026
Adoni Property Group Secures $14.1 Million Loan For Springfield Plaza In New Jersey
275 Us Highway 22
$14,100,000
$195/SF
Building Size
72,120 SF
Asset Type
Retail
Closing
Oct 19, 2026
About this deal
AI
The asset involved in this transaction is Springfield Plaza, a retail property located at 271-275 Us Highway 22 in Springfield, New Jersey. The property encompasses a total square footage of 72,120 and sits on 7 acres of land. It is currently 97% leased to 17 national and regional tenants.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $14,100,000
- Address: 271-275 Us Highway 22
- Market: Springfield, NJ
- Asset Size: 72,120 SF
- Acres: 7.0
- Landlord: Sonny Adoni - Adoni Property Group
- Brokers: Max Custer, Gerard Quinn & Matthew McManus - JLL
- Loan Amount: $14,100,000
The financing for this acquisition was arranged by JLL, which involved obtaining fixed-rate financing from an undisclosed regional bank. The team comprised of Max Custer, Gerard Quinn, and Matthew McManus represented Adoni Property Group in this transaction.
On the Map
$14,100,000
$195/SF
Retail
View full map
Players
Springfield Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
Loading comparables…
Deal FAQ
Visit Gerard Quinn to view all their deals.
Browse Springfield retail loans on Traded.
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.13%
Cash-on-Cash
-0.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93