Shoppes at Harmon Square secures $18.1 million loan

Courtesy Photo

Oversize depictions of food items are built into Shoppes at Harmon Square, 4501 Paradise Road, which recently secured a loan to retire existing senior debt and fund tenant improvements.

The Shoppes at Harmon Square in Las Vegas, which renovated its units, façade and parking last year, has secured a $18.1 million loan from Benefit Street Partners.

Proceeds will be used to retire the existing senior debt, and fund immediate tenant improvements and leasing commissions, according to a news release announcing the transaction.

Eyzenberg & Company President David Eyzenberg, Managing Director Jeff Conti and Associate Elena Vlasyuk arranged the fixed-rate senior secured loan on behalf of ownership, HD Harmon Square LLC.

“While the overall retail landscape has been challenging, the demand for well-located shopping centers with stable, long-term tenants, has continued unabated,” Eyzenberg said.

The 31,384-square-foot retail center at 4501 Paradise Road (across the street from the Hard Rock) features oversize food items built into the façade and along its perimeter, with visitors often stopping to take selfies.

Tenants include Dunkin’ Donuts, Subway, 7-Eleven, Liquor World, Tropical Smoothie and Roberto’s Tacos. Checkers restaurant is at the northeast corner of the 3.3-acre site. Two units — 3,500 square feet and 4,900 square feet — are available for lease, the news release said.