Menin Development Secures Financing at the Shoppes at St. Lucie West
Posted: 12/9/09
Today, Menin Development secured financing for an outparcel ground-leased to Wells Fargo Bank at the Shoppes at St. Lucie West in St. Lucie West, Florida. The floating rate loan has a term of 5 years and was placed by a U.S. based commercial bank.
The Shoppes at St. Lucie West is a 200,000 SF grocery-anchored shopping center located in St. Lucie West, a mature area within one of Florida’s fastest growing and most promising communities due north of Palm Beach, Florida. The center is anchored by one of the largest Publix Supermarkets in South Florida in terms of gross sales, as well as a 115,000 SF Sears. National tenants include GNC, Edward Jones Financial, Hair Cuttery, Wells Fargo Bank, SunTrust Bank, and Mobile Oil.
The property is specifically located at the intersection of St. Lucie West Boulevard (the primary commercial thoroughfare in the region) and N.W. Bethany Drive. The center is 2 miles east of I-95 and is within close proximity to Florida’s Turnpike and US-1.
For more inquiries please
contact Menin Development, Inc. at (561) 282-5000 or for
leasing information please contact Kate Gilbert at (561)
716-5897 or kgilbert@meninrealty.com.
About Menin Development
Menin Development, Inc. is a privately held owner, developer and manager of commercial real estate properties. Founded by Craig I. Menin in 1985, the company is headquartered in Palm Beach, Florida. Menin, the developer and owner of over $1
Billion of prime retail properties throughout the Southeast, has a current portfolio of 800,000 SF of existing, high-quality, community and grocery-anchored centers as well as another 2.1 million SF under development. Throughout its history, Menin has acquired and/or developed in excess of 3 million square feet in Florida, Virginia, North Carolina, Louisiana and Tennessee. Principals of Menin Development, Inc. are Craig I. Menin, Chief Executive Officer; Robert C. Jacoby, Chief Operating Officer; and Marc T. Yavinsky, Executive Vice President.
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