Rialto is providing a $10 million loan for 89,000-square-foot, multi-tenant shopping center in Rockaway, NJ

JLL Capital Markets experts arranged a $10 million loan to refinance Rockaway Commons, a multi-tenant shopping center located at 204-212 Route 46 in Rockaway, N.J. The group worked on behalf of Anthony Mehran to place the loan with Rialto Capital Management LLC.

Max Herzog, Managing Director; Marko Kazanjian, Vice President; and Matt Fagella, Analyst, led the JLL Capital Markets team working on the debt assignment.

“Anthony Mehran has extensive experience in real estate, having developed and acquired a diversified portfolio including retail shopping centers, free-standing retail and multifamily properties,” said Herzog. “Under his ownership, Rockaway Commons has developed an excellent track record, and is fully leased to brand-name tenants. Due to the property’s easy access to major highways and the area’s surround population, this was an exciting refinancing opportunity.”

The 89,000-square-foot Rockaway Commons was developed in 2006 and is nearly fully leased. The multitenant shopping center comprises four buildings on 9.96 acres in Rockaway, N.J. The property features a 488-space parking lot, providing ample customer and employee parking. It offers direct access to Route 46, a major thoroughfare in Morris County, and is just minutes from I-80.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2017 alone, the firm’s 2,000 Capital Markets specialists completed $170 billion in investment sale and debt and equity transactions globally.

For capital markets content, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: http://bit.ly/18P2tkv.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.