“JLL Facilitates $42M Financing for Retail Center with Jewel-Osco Anchor in Wheaton”

"JLL Facilitates $42M Financing for Retail Center with Jewel-Osco Anchor in Wheaton"

JLL has successfully secured a $41.65 million loan for Danada Square West, a popular shopping center in Wheaton, Illinois spanning 314,819 square feet and anchored by a grocery store. The borrower, DLC, was represented by JLL’s Capital Market’s Debt Advisory team led by Senior Managing Director Scott Aiese along with Managing Director Christopher Knight and Director Alex Staikos.

Located at 120 Danada Square W., the property is situated in DuPage County just 30 miles west of downtown Chicago. Built in 1988 and currently boasting an impressive occupancy rate of 92.7%, the center features top-performing Jewel-Osco as its anchor tenant – who has been loyal to the location for over three decades.

Aiese commented on the transaction saying that it highlights the strong demand for well-located retail properties anchored by grocery stores in affluent suburban markets like this one. He also noted that due to factors such as its high-performing anchor tenant and diverse national tenants mix combined with its prime location within DuPage County – lenders showed significant interest resulting in favorable terms being offered to their client.

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