JLL Secures $71.3M in Retail Real Estate Acquisition Financing for Medipower Group's New Jersey and Southeast Portfolio
JLL announced May 11, 2026, that it has arranged $71.3 million in acquisition financing for Medipower Group across seven grocery-anchored retail real estate properties — one in New Jersey and six spanning the Southeast.
The financing was split across two separate transactions: Protective Life provided the loan for Lewandowski Commons in Lyndhurst, New Jersey, while Nationwide financed a six-property Southeast retail portfolio spanning Myrtle Beach, South Carolina; Virginia Beach, Virginia; and four properties in the Atlanta metropolitan area.
Portfolio Overview: Seven Grocery-Anchored Retail Centers
The New Jersey component, Lewandowski Commons, is a 77,743-square-foot center located in Bergen County, approximately seven miles from New York City. The property is anchored by Stop & Shop, whose parent company, Ahold Delhaize, carries an investment-grade BBB+ credit rating. The surrounding trade area features average household income exceeding $138,000 within a three-mile radius and a total population of more than 600,000 within five miles.
The Southeast retail real estate portfolio spans six properties:
- Hickory Flat Village — Canton, Georgia (74,020 SF)
- Deshon Plaza — Stone Mountain, Georgia (64,055 SF)
- Flat Shoals Crossing — Decatur, Georgia (69,699 SF)
- Cascade Corners — Atlanta, Georgia (66,844 SF)
- The Plaza at Carolina Forest — Myrtle Beach, South Carolina (114,237 SF)
- Kroger Plaza — Virginia Beach, Virginia (67,540 SF)
Publix and Kroger serve as anchor tenants across the Southeast portfolio. All seven properties in the combined portfolio are 99.7% occupied, with grocer anchors reporting average sales exceeding $700 per square foot and occupancy costs averaging approximately 2.2%.
Atlanta Market Fundamentals
The four Atlanta-area properties benefit from the region's position as the eighth-largest metropolitan statistical area in the United States and a top moving destination in the country, according to JLL's announcement. The Atlanta assets feature grocer anchors with a weighted average lease term of 4.4 years remaining, and several locations have recorded sales growth exceeding 50% over the past six years.
The JLL Debt Advisory team that arranged the financing was led by Jim Cadranell, Jon Mikula, Gregg Shapiro, Hunter Goldberg, Kelsey Bawcombe, Streeter Simmons, and Caleb Henry.
"These two transactions reflect strong lender confidence in high-quality, grocery-anchored retail assets with exceptional fundamentals. The combination of investment-grade and best-in-class regional grocers, strong sales performance, minimal capital requirements and strategic locations in high-barrier-to-entry markets made these attractive opportunities for both Protective Life and Nationwide," said Cadranell.
Shapiro added: "These properties benefit from durable income streams, with nearly half of revenue derived from grocers operating at low occupancy costs and demonstrating consistent sales growth. The financing structure provides Medipower with the flexibility to execute their business plan across these institutional-quality assets in premier markets."
About the Firms
Medipower Group is a commercial real estate firm focused on grocery-anchored shopping centers along the U.S. East Coast. The company's portfolio includes 31 shopping centers anchored by national grocery operators. The firm's strategy spans acquisitions, redevelopment, asset management, and operations.
JLL Capital Markets is a global capital solutions provider for real estate investors and occupiers, with more than 3,000 specialists in offices across nearly 50 countries. JLL (NYSE: JLL) reported annual revenue of $26.1 billion and operates in more than 80 countries with a global workforce of more than 113,000 as of March 31, 2025.