MANAHAWKIN – A major Jersey Shore shopping destination has secured new financing after a national commercial real estate firm arranged a multimillion-dollar refinancing deal.
JLL Capital Markets announced it has closed a $20.5 million loan to refinance Stafford Park, a nearly 141,000-square-foot open-air retail center located in Stafford Township. The five-year, fixed-rate financing was provided by an institutional investment manager on behalf of the property’s owner, Walters Group.
The retail complex, developed by Walters Group in 2007, is fully occupied and features a lineup of national retailers including Dick’s Sporting Goods, Best Buy, PetSmart and Ulta Beauty. The property also benefits from its proximity to major big-box stores, with Costco and Target serving as nearby anchors that drive steady consumer traffic.
JLL officials said the center’s strong tenant mix and location along a heavily traveled commercial corridor near the Jersey Shore contributed to securing favorable loan terms. The transaction was arranged by JLL Capital Markets professionals Jim Cadranell, Ryan Carroll and Christian Badalamenti.
Stafford Park remains one of the township’s prominent retail hubs, serving both year-round residents and seasonal visitors to the region.
