Fidelity Provides $11.5M Acquisition Loan for Clifton Retail

An investor secured $11.5 million in acquisition financing for a nearly 49,000-square-foot commercial property in Clifton at 1030-1050 Route 46. JLL arranged the transaction and said Fidelity Investments provided the loan.

The plan is to reposition the site as a grocery-anchored retail center. JLL reported the borrower will start about $1.5 million in capital improvements, including façade enhancements, signage upgrades, and parking lot repairs, with stabilization targeted within 18 months. The brokerage also noted the property was 80% preleased prior to closing and sits on a 4.3-acre site at a major highway intersection.