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Associated Bank completes $9 million loan for Ohio retail development
The Trailhead Crossing project on a 12-acre site will include three freestanding buildings leased to Chick-fil-A, Chipotle Mexican Grill, and Take 5 Oil Change.
Associated Bank has finalized a $9 million loan to GTZ Properties for the development of Trailhead Crossing, a multi-building retail project at 1135-1131 US-36 in Delaware, Ohio, a suburb of Columbus, according to ConnectCRE.
The 12-acre development will feature three freestanding buildings occupied by Chick-fil-A, Chipotle Mexican Grill, and Take 5 Oil Change, plus a second three-tenant strip that is set to be occupied by Dunkin Donuts, Nothing Bundt Cakes, and Pacific Dental Services.
ConnectCRE said one of two pad-ready sites is pending sale to a national daycare company, and a later phase of the project will be anchored by a big-box national retailer.
The outlet added that the loan was managed and closed by Daniel Barrins, senior vice president in Associated Bank’s Commercial Real Estate division in Chicago, and that it is the bank’s 18th loan to GTZ Properties principal Mitch Goltz.