Wooden Investments Cos. has obtained a $20.3 million mortgage for Helena Skyway Regional Purchasing Heart, a 164,121-square-foot retail middle in Helena, Mont. Wells Fargo supplied the everlasting mortgage for the totally leased property.
The purchasing middle got here on-line in 2007 on some 23 acres. Shadow-anchored by The Residence Depot, Helena Skyway additionally encompasses a various mixture of regional and nationwide tenants resembling TJ Maxx, Ulta Magnificence, Costco, Chilli’s, Tub & Past, Staples and Passion Foyer.
Wooden Investments has just lately secured new leases on the property with Sierra and Chick-fil-A. Sierra will begin operations on November 9, whereas Chick-fil-A’s building is in progress, aiming for a late 2025 opening. These additions have resulted within the middle reaching full occupancy.
Positioned at 2005 Cromwell Dixon Lane, Helena Skyway is on the intersection of Interstate 15 and East Custer Avenue. The property serves greater than 72,974 people inside a 10-mile radius, with the typical family revenue of roughly $105,936, in response to Colliers.
Pursuing retail alternatives
Adapting to retail market traits, Wooden Investments continues to pursue growth alternatives within the Western U.S. and to transform properties into neighborhood hubs, in response to President & CEO Patrick Wooden.
In January, the corporate obtained a $54 million building mortgage from 3650 REIT for a 200,000-square-foot retail undertaking in Ontario, Calif. On the time, many of the area was already preleased, in response to Traded.
Wooden additionally secured a $16.5 million in refinancing final 12 months for a 135,732-square-foot purchasing middle within the Boise, Idaho, and a $22.6 million be aware for a 197,288-square-foot retail property in the identical space.
