Axiom Capital has arranged $2,500,000 in permanent financing for the refinance of a free-standing grocery store in Wynantskill, New York. The non-recourse loan was for 10 years at a fixed rate.
The location is the principle feature of this property. Situated on Main Avenue, it is in a densely populated area and only 3 miles from downtown Troy. Within 10 miles of Hannaford, the population is 340,594. The residential area surrounding the property offers many potential consumers and provides a strong base for the sales and performance of Hannaford. The retail presence and density of the Main Avenue corridor make the location irreplaceable.
Main Avenue is the primary east/west roadway in the area, offering access to the location on a regional scale. Main Avenue sees daily traffic on average of 13,000 vehicles per day and is serviced by a CDTA bus stop on site. The asset is also only 4 miles from I-787, the area’s primary north/south highway. The asset pulls consumers from the suburbs in the immediate area as well as those traveling from nearby Troy, and other larger suburbs.