March 24, 2020
NKF arranged a $29-million fixed-rate loan to refinance Naugatuck Shopping Center in the central Connecticut city of Waterbury. The NKF team was led by Dustin Stolly and Jordan Roeschlaub, co-heads of the New York debt & structured finance team, along with senior managing directors Nick Scribani and Chris Kramer. UBS provided the loan. The borrower was not disclosed.
The 383,000-square-foot, grocery-anchored power shopping center is home to several well-known tenants, including Walmart, Stop & Shop, Sprint, Weight Watchers and Comcast, and is approximately 98% occupied. Both Walmart and Stop & Shop—which extended its lease—have performed renovations to their spaces within the past year.
“This property’s diversified roster of tenants makes it a popular destination for the regional retail community,” said Stolly. “The recent extension by Stop & Shop underscores the center’s strong location and its importance to area residents and travelers alike.”
For comments, questions or concerns, please contact Paul Bubny