May 8, 2019
Graco Real Estate Development Inc. obtained $10.5 million to refinance Rockridge Plaza, a Class A retail center in Lubbock, TX. Deutsche Bank provided the fixed-rate, non-recourse loan, and JLL’s Jimmy Board and Wes Wallace led the team on the financing effort.
The 85,000-square-foot Rockridge Plaza, at 5217 82nd St., is 95% leased to a tenant mix that includes national retailers and local businesses. The tenant roster includes Food King Grocery Store, Einstein Bros. Bagels, University Medical Center, Josey Books & Records, Jo-Ann Fabrics, Caprock Cafe, H&R Block, O’Hana Japanese Steakhouse, Sprint Wireless, & Robert Lance Jewelry.
“This thriving retail center in the heart of West Texas offered lenders the opportunity to lend in a dynamic community and partner with a top-notch developer,” Board said. “Graco has a strong track record of developing successful retail projects from conception to completion, and providing leasing and management services thereafter.”
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