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December 12 , 2012

Loan funds construction of Lower Greenville Trader Joe’s store

Loan funds construction of Lower Greenville Trader Joe’s store

By: Steve Brown

If there are any doubters left out there about the Lower Greenville Trader Joe’s store, here’s the final proof.

NorthMarq Capital said Wednesday that it’s provided a $4 million loan to fund building of the specialty grocery store at 2001 Greenville Ave.

The 21,000-square-foot store will be located on the site of the long-gone Arcadia Theater.

“The lender was able to accommodate the borrower’s request to provide a long-term fixed-rate construction and permanent loan to build a Trader Joe’s store and adjoining retail with no preleasing requirement for the adjoining retail, enabling the borrower maximum flexibility in leasing this space,” Bart Dickinson, vice president of NorthMarq’s Dallas Regional office, said in a statement.

The Lower Greenville Trader Joe’s was originally set to open this fall, but has run behind because of delays.

The retailer’s website now says that the store will open in first quarter 2013.

NorthMarq’s announcement of the store loan includes a tiny drawing of what the Greenville Trader Joe’s will look like. You’ll need your spy glass to see it.

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