Popular N.J. shopping center secures $13.5M refinancing deal
Millburn Village, a popular 71,000-square-foot shopping center in Vauxhall, New Jersey, received a $13.5 million refinancing arrangement to improve its finances. The recently completed refinancing supports the center’s operations and tenant stability.
A Walgreens drugstore, Five Guys restaurant, Staples office supply store, and several other local stores are in the shopping area. Vauxhall locals use the center’s wide tenant mix for retail.
JLL Capital Markets negotiated the refinancing for Lightstone. A three-year, fixed-rate loan from Ameritas Investment Corporation gives property management and owners predictable financial terms. Our strategy allows Millburn Village to continue operations and pay financial obligations without disruption.
This type of refinancing helps property owners manage debt, stabilize cash flow, and support retail locations long-term, according to experts. Millburn Village can maintain operations and support tenants with a fixed-rate loan.
Investors and lenders remain confident in New Jersey’s retail industry after the refinancing. Prime shopping complexes with solid tenant bases, like Millburn Village, continue to attract significant investment despite national retail sector issues, demonstrating the importance of location and tenant diversity in commercial property sustainability.
This expansion should help Millburn Village remain a central shopping destination for Vauxhall residents and a stable business hub for its tenants.
Sources:
- Official JLL Capital Markets Statement
- Ameritas Investment Corp public announcements
