Axiom Capital funds 86,931 s/f grocery-anchored retail plaza in Queens
Queens, NY Axiom Capital Corp. has structured and arranged a $25 million permanent loan (10-year, fixed rate, non-recourse) for the refinance of a grocery-anchored retail plaza. The property consists of 86,931 s/f of rentable space situated on 7.97-acre site. The first building was built in 1992 and has 77,649 s/f. The second building was built in 2019-2020 and has 9,282 s/f.
The project is situated off I-678 on 20th Ave. (23,339 average annual daily traffic). I-678 is a major highway that primarily runs north to south through two boroughs of New York City and experiences 185,043 average annual daily traffic.