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Backed by a century’s worth of knowledge and expertise, Cronheim Mortgage provides a vast array of real estate services, including debt and equity for investment grade real estate. By leveraging the strong correspondent and/or servicing relationships we have cultivated with our institutional investors, including many insurance companies, we have continuously had access to substantial debt and equity capital to invest in quality real estate at pricing well below alternative sources, especially for long-term debt. We stand out from our competitors with our strong debt servicing portfolio, currently in excess of $2,000,000,000.  Moreover, through our Channel Real Estate Funds affiliate, we have efficiently and cost-effectively provided mezzanine and equity capital for numerous real estate assets. We have placed debt/equity and serviced in 30 states, and continue to capitalize on new opportunities.

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Cronheim Secures $5.0MM for 80,000 SF Retail Center in Springfield, NJ

  • Writer: Jeffrey Pacailler
    Jeffrey Pacailler
  • Jan 17, 2019
  • 1 min read


Cronheim Mortgage arranged financing totaling $5.0 million for a Springfield, New Jersey retail center. The 15-year, fixed rate loan was placed with American United Life Insurance Company.

The subject property is an 80,000 sq ft retail center located in Springfield, New Jersey approximately 10 miles west of the Newark CBD. The property was built in 1972, renovated in 1995 & consists of one single-story building on 7.1 acres with a parking ratio of nearly 5:1. The premises were originally 100% occupied by Channel Home Centers and later leased to Linen 'N Things and Bob's Stores. After Linen 'N Things vacated the premises, the remaining space was quickly filled by Christmas Tree Shoppes.

Springfield Township remains one of the prime locations for retail development due to population density and high discretionary income. The subject is located on Route 22 and South Springfield Ave, and is accessible from both roads. Route 22 is one of the highest traffic and successful retail thoroughfares in NJ.

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