PGIM Real Estate Secures $132 Million Refinance From Wells Fargo For Retail Center In Center Valley

The Promenade Shops at Saucon Valley is a 475,000-square-foot open-air retail center located at 2845 Center Valley Parkway in Center Valley, PA. The property spans 60 acres and is anchored by The Fresh Market, housing other notable tenants such as L.L. Bean and AMC Theatres. It offers direct access to I-78 and U.S. 309.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $132,000,000
• Lender: Wells Fargo
• Landlord: Jacques Chappuis - PGIM Real Estate
• Loan Type: Refinance

PGIM Real Estate secured a refinancing loan from Wells Fargo Bank for the property. The management of the retail center is handled by MSC, providing operational support for the various tenants within the complex.