U.S. Bank closes on $46 million loan for Pier Park North

Panama City Beach, Fla. -- Columbus, Ohio-based Casto said that its JV partners The St. Joe Co. and Strategic Retail Advisors, along with U.S. Bank, have closed on a $46 million construction loan that will finance The Pier Park North Shopping Center, a 360,000-sq.-ft. shopping center in Panama City Beach, Fla.

The Pier Park North Shopping Center will be located across from Pier Park Lifestyle Center; tenants will include Bed Bath & Beyond, Lee Nails & Spa, Mattress Firm, Men’s Warehouse, PetSmart, Rooms to Go and Shoe Carnival. The new tenants will join Dick’s Sporting Goods, Michaels, Pier 1 Imports and Kirkland’s, which committed last fall to leasing space at Pier Park North.  
 
Pier Park North is slated to open in spring 2014.

 

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