JLL arranges $5.7M refinancing for Union Square Shopping Center

DENVER, Aug. 18, 2026 – JLL Capital Markets announced today that it arranged a $5.7 million refinancing for Union Square Shopping Center, a 69,347-square-foot Crunch-anchored shopping center located at 5035-5069 N. Academy Blvd. in Colorado Springs.

JLL worked on behalf of the borrower, ABMAR Investments, to secure a three-year, floating-rate loan. The financing allowed the borrower to refinance their existing loan and future fund upcoming Crunch Fitness tenant improvements, along with additional capital expenditures.

Built in 1978 and renovated in 2005, Union Square Shopping Center is situated on 8.39 acres with 582 surface parking spaces. The property features 13 tenants across a diversified mix of retail, food and beverage, service and fitness categories. The center is 98% leased with national retailers comprising a significant portion of the tenant roster, including Crunch Fitness, Chipotle Mexican Grill, Edward Jones, 7Brew Coffee and Big 5 Sporting Goods, complemented by established local operators.

The property benefits from its prime positioning along Academy Boulevard in Colorado Springs' Northeast retail submarket. The location provides exceptional visibility, with annual traffic counts exceeding 270,000 vehicles within a half mile. The immediate trade area is supported by strong demographics, with median household income exceeding $90,000 and homeownership rates surpassing 60% within a five-mile radius. The submarket benefits from stable military employment anchored by Peterson Space Force Base and the U.S. Air Force Academy, providing consistent economic support to the retail corridor.

ABMAR Investments has owned and operated Union Square Shopping Center for more than two decades, demonstrating long-term commitment to the asset and the Colorado Springs market. ABMAR Investments is a multigenerational family real estate investment group that owns (or has owned) office, retail, industrial, and multifamily assets in Virginia, North Carolina, Connecticut, Florida, and Colorado. 

The JLL Capital Markets team was led by Associate Andrew Deaver, Senior Director Rob Bova and Director Tom Gilliland.

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 112,000 as of June 30, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

ABMAR Investments is a multigenerational family real estate investment group that owns (or has owned) office, retail, industrial, and multifamily assets in Virginia, North Carolina, Connecticut, Florida, and Colorado.