Q10 | Professional Mortgage Arranged Fixed-Rate Loan for New Shopping Center from Institutional Lender
Mooresville Town Square, a recently developed 250,000-square-foot retail center occupying a 40-acre site in Mooresville, NC, secured an $8.3 million fixed-rate loan placed as part of a portfolio funded by an undisclosed institutional lender for which Q10 | Professional Mortgage serves as a loan correspondent.
The large retail development is located along two of the most frequently traveled roads in the area. Williamson Road is the major north-south corridor linking Mooresville’s growing retail and commercial hubs, and Brawley School Road is the main route to The Point golf community.
A new interchange will connect Brawley School Road and I-77 approximately 3/4 of a mile from Mooresville Town Square, which consist of six free-standing retail buildings, a large retail strip and eight outparcels. The Nichols Company of Charlotte handles leasing for the retail property.