High-performing grocery-anchored retail center in Los Angeles secures $21.5M refinancing

LOS ANGELES, May. 5, 2025 – JLL Capital Markets announced today that it has arranged the successful $21.5 million financing of Juanita Tate Marketplace, a 77,096-square-foot grocery-anchored retail center located in Los Angeles, California.

JLL represented the borrower, Optimus Properties, LLC in arranging the five-year loan through institutional investors advised by J.P. Morgan Asset Management.

Juanita Tate Marketplace is a high-performing retail center anchored by Northgate Market, which occupies 55% of the gross leasable area. The property is 100% leased to a diverse mix of tenants, including CVS, Panda Express, Starbucks and Chase Bank. Built in 2014, the center has maintained an average occupancy above 95% since its opening.

Situated at the corner of E Slauson Ave. and E Central Ave., Juanita Tate Marketplace benefits from high visibility and strong traffic flow, with 22,600 and 26,700 vehicles per day respectively. The property is located within a densely populated area, with 1.2 million people residing within a five-mile radius.

JLL Capital Market’s Debt Advisory team representing the borrower was led by Director Alex Olson and Associate Daniel Skerrett.

"Juanita Tate Marketplace represented an exceptional and unique investment opportunity in one the densest parts of Los Angeles," said Olson. "The property has a fascinating history which included eminent domain development to remedy a longstanding food desert and a 17 year escrow process. Strong anchor tenants, diverse mix of national retailers, the strategic location and strong Sponsorship contributed to its appeal in securing favorable financing terms."

K. Joseph Shabani, co-founder of Optimus added, “It was a pleasure to work with Alex and his team. They made the transaction painless.”

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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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

Optimus Properties, LLC, a privately held real estate investment company based in Los Angeles, California, specializes in acquiring, developing, leasing and managing multi-family, retail and commercial real estate. Founded by Houshang, K. Joseph and Kamyar Shabani, the company employs a disciplined investment approach and handles all aspects of its business internally, from acquisitions to property management. With a portfolio spanning California and New Mexico, Optimus Properties focuses on value creation and capital preservation through direct principal involvement and significant personal investment.