HACKETTSTOWN, NJ-Cronheim Mortgage Corp. has secured $18.9 million in financing for Mansfield Commons, a 271,979-sf shopping center in Warren County. Cronheim acts as servicer and correspondent for the 11-year financing.
Mansfield Commons, owned by National Realty & Development Corp. of Purchase NY, is anchored by a 123,519-sf Wal-Mart and 88,830-sf Kohl’s. The project has “just a couple” of small vacancies, Andrew Stewart, Cronheim’s CEO, tells GlobeSt.com.
“Financing is definitely opening up,” says Stewart, who with the firm’s Lisa McMahon secured the financing. The center is located on Route 57, about 2.5 miles south of Route 46, in the central portion of the county.
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