Cronheim closes $9.62MM financing on North Carolina grocery anchored retail center
GREENSBORO, NC — Cronheim Mortgage arranged financing totaling $9.62 million for Golden Gate Shopping Center located in Greensboro. Golden Gate Shopping Center is a 151,371 s/f grocery anchored shopping center on approximately 11.5 acres of land. Built in 1962 and 1987, renovated in 2001, and subsequently improved in 2014, the property is anchored by Food Lion, a subsidiary of Ahold Delhaize, a world-leading food retailer, and junior anchored by Planet Fitness and Air Fun Trampoline Park. The property was 100% occupied at time of closing and hosts a unique and diverse roster of global, national, regional, and government tenants, a mix of grocery, retail, entertainment, lifestyle, service, medical, and restaurant spaces. Food Lion is one of the largest and strongest grocers in the Southeast with more than 1,089 supermarkets in 10 states of the Southeastern United States with about 63,000 employees.