$19.1 Million Loan Refinances The Shoppes at St. Lucie West Phases III & IV
Posted: 11/13/08
Menin Development is pleased to announce that it has secured financing for it's Shoppes at St. Lucie West Phases III and IV, located in St. Lucie West, Florida.  The floating rate loan has a term of 3 years and is based on payments of interest only, and was placed with a major financial institution.

The recently completed Shoppes at St. Lucie West Phase III consists of 47,000 square feet of retail shops and Phase IV includes 13.32 acres of land which is entitled and approved for 120,000 square feet of additional retail.  Notable Phase III retailers include Edwin Watts, Crown Wine & Spirits, Mattress Firm, UPS Store, CitiFinancial, AT&T Wireless, and Carvel/Cinnabon.  Both Phases III & IV are located immediately adjacent to the Shoppes at St. Lucie West Phases I & II, a 200,000 square foot retail center anchored by Publix and Sears, also owned by affiliates of Menin.

The property is located at the intersection of St. Lucie West Boulevard (the primary commercial thoroughfare in the region with direct access to I-95) and N.W. Bethany Drive. The property 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
Founded in 1985, Menin Development has acquired and/or developed more than $1 billion of high quality shopping centers, office buildings and hotels with another 2 million square feet currently under development in Florida and South Carolina. 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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