Optimus Properties, LLC closed on a $21.5-million financing of Juanita Tate Marketplace, a 77,096-square-foot grocery-anchored retail center on 6.63 acres in Los Angeles. A JLL Capital Markets team led by director Alex Olson and associate Daniel Skerrett represented Optimus in arranging the five-year interest-only loan through JP Morgan Asset Management.
“Juanita Tate Marketplace represented an exceptional and unique investment opportunity in one of the densest parts of Los Angeles,” said Olson. “The property has a fascinating history which included eminent domain development to remedy a longstanding food desert and a 17-year escrow process. Strong anchor tenants, diverse mix of national retailers, the strategic location and strong sponsorship contributed to its appeal in securing favorable financing terms.”
Built in 2014, Juanita Tate Marketplace is a high-performing retail center anchored by Northgate Market. The property is 100% leased to a diverse mix of tenants, including CVS, Panda Express, Starbucks and Chase Bank.
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