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Clovis Shopping Center, ‘Turnaround’ Success Story, Secures $24M Loan

October 31, 2017

A Clovis shopping center is the beneficiary of a $24 million permanent financing loan, announced one of the largest commercial finance companies in the US. The 127,764 square-foot Trading Post Shopping Center at Clovis and Herndon avenues had sat mostly vacant for several years when Rich Development Enterprises, LLC, purchased the center in 2015 with a plan to rehab the property. Two anchor spaces were vacant at the time, and only 20 percent of the center was occupied. Rich Development — which also developed the Marketplace at El Paseo shopping center in northwest Fresno — expanded and brought in national and regional tenants including Sprouts, Ross, Skechers, Tuesday Morning, Dollar Tree, Deli Delicious, Union Bank and Pieology Pizza.

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