The mortgage on Peppertree Commons is being sold after the former owner stopped making payments, according to Manhattan-based real estate firm Eastern Consolidated.
Allen Rosenberg of the Alrose Group and Long Beach’s Allegria Hotel was the previous owner of the mortgage. After Rosenberg defaulted on the loan, the lender of the mortgage, Capital One, enlisted the Eastern Consolidated firm for help in finding new potential owners.
According to David Schechtman, the Senior Director of the firm, several investors and national and local buyers are already inquiring about the lease on the space, which holds more than 30,000 square feet and 14 retail spaces including , and .
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“The interest [in the property] is overwhelming,” said Schechtman. “People know that is a tremendously trafficked and desirable commercial real estate location.”
Though the lease has only been on the market for a few days, Schechtman expects the deal to close by June 30th.
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Rosenberg could not be reached for comment at his office or hotel.
