**Tacoma Retail Center Secures $21.4M in Financing**
Gantry has arranged a $21.4 million permanent loan for the acquisition of the James Center, a grocery-anchored retail center located at 6901 S 19th Street in Tacoma, Washington.
The property was acquired by a partnership managed by Rosen Harbottle Commercial Real Estate. The firm’s portfolio spans 64 retail, office, and industrial properties totaling over 3.9 million square feet throughout the Puget Sound region and Boise, Idaho.
Alan Hergert, Senior Director, and Tim Brown, Senior Associate, with Gantry’s Seattle production office, represented the borrower—an unnamed private real estate investor. The loan is a 10-year, fixed-rate, nonrecourse structure secured through one of Gantry’s correspondent life insurance company lenders. It features a 30-year amortization, and Gantry will continue to service the loan.
James Center is a stabilized retail property encompassing 140,240 square feet of leasable space spread across multiple buildings situated on a 15.95-acre site. Major tenants include Fred Meyer, Rite Aid, U.S. Bank, IHOP, Taco Bell, MultiCare, and FedEx.
