Southgate Shopping Center

Location: Phoenix, AZ
Type: Retail
Price: $7,200,000

SMC has provided a $7,200,000 loan for the refinance of Southgate Shopping Center. The Loan has a 10-year term with 48-months of interest-only payments. The Property is 97.2% occupied and has been anchored by Food City (Basha’s) since 1990. The Subject is well-located on South Central Avenue, which is a major north-south thoroughfare in the region, with approximately 25,000 VPD, as of 2017.