McLean retail center gets $3.7 million in financing
Spence Hill Associates said it has arranged $3.75 million of permanent financing for McLean Village, a 9,538-square-foot shopping center at 8104 Old Dominion Drive in McLean.
The company said in a press release that Michael H. Trauberman, managing director of Spence Hill Associates, arranged and negotiated the financing. The 10-year loan was placed with a Virginia-based bank and offers an initial seven-year fixed interest rate of 3.55 percent.
McLean Village is a neighborhood retail center on the north side of Old Dominion Drive, east of Spring Hill Road. The fully leased center is near the affluent neighborhoods of McLean and Great Falls. Tenants include Nourish Market, Gathered Stems and Dominion Village Cleaners.
Spence Hill Associates, a real estate investment-banking firm, is headquartered in Falls Church.