Franklin Street Capital Advisors (FSCA) has closed a $3.23 million loan for Union Place, a 16,200-square-foot retail strip center located in West Chester, Ohio. Ben Miller and Casey Siggins of Franklin Street secured the loan on behalf of the buyer in the 1031 exchange. The five-year loan includes a 4.2 percent fixed rate with a 25-year amortization.

“This transaction is representative of the continued trend of attractive financing being available for well-positioned, well-maintained assets,” Siggins said. “This property has a strong historical occupancy of 100 percent, is well-kept and has very little deferred maintenance. It is also located in an affluent area of West Chester and has a strong national tenant base.”

Union Place is located directly off I-75 in the affluent neighborhood of West Chester, just north of Cincinnati, Ohio. Built on 5.5 acres in 2004, the strip center has national tenants including First Watch, PNC Bank, El Rancho Bueno and Jimmy John’s.

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