Poplar Plaza Shopping Center: $25.1M refinancing secured for Memphis retail center

BOSTON, Jul. 30, 2025 – JLL Capital Markets announced today that it has secured a $25.139 million financing for Poplar Plaza, a 350,000-square-foot grocery-anchored retail center in Memphis, Tennessee.

JLL worked on behalf of the borrower, Finard Properties, in arranging the seven-year, fixed-rate loan through Renasant Bank.

Poplar Plaza, located at 3450 Poplar Ave., sits at a high-traffic intersection where approximately 47,000 vehicles pass daily, just a quarter mile from the University of Memphis campus with its 21,000+ students. The property occupies a prime location in Memphis' geographical center with excellent accessibility and visibility.

Memphis continues to show strong economic growth with $13 billion in revitalization projects over the past four years. The city's diverse economy is anchored by logistics, healthcare and manufacturing sectors.

The retail center is anchored by Kroger, which has operated at this location for over 72 years and has 19 years remaining on the initial lease term of 30-yearsOther notable tenants include Old Navy, Petco, Paul Mitchell, Boards to Beers (a board game café), Feast & Graze (a charcuterie board cafe) and four other restaurants.

The financing will support the repositioning of "The Angle," a 14,015-square-foot multi-bay building on the hard corner of Poplar Ave. and South Highland St., continuing to bring new activity to the entire center.

JLL Capital Market’s Debt Advisory team was led by Senior Managing Directors Brett Paulsrud and Gregg Shapiro, Managing Director Amy Lousararian and Associate Michael Schwarze.

"This financing highlights the exceptional strength and enduring value of strategically located, grocery-anchored retail centers like Poplar Plaza, where tenant performance continues to thrive," said Paulsrud. "The center's prime location combined with the sponsor's impressive track record and longstanding history with the property created tremendous enthusiasm among lenders, making this an exceptionally attractive investment opportunity."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Finard Properties is an entrepreneurial commercial real estate company that develops, owns and manages retail, office and hospitality properties across New England with additional presence in the mid-south United States. The company specializes in asset acquisition and management, ground-up development, redevelopment and property repositioning, bringing innovation and creativity to transformative projects that create stakeholder value.

Renasant Corporation is the parent of Renasant Bank, a 121-year-old financial services institution. Renasant has assets of approximately $26.6 billion and operates 300 banking, lending, mortgage and wealth management offices throughout the Southeast and also offers factoring and asset-based lending on a nationwide basis.