Photo courtesy of JLL

The owners of Framingham’s Shoppers World refinanced a portion of the 752,000 square-foot retail property for $123.6 million.

New York-based Urban Edge Properties acquired the 752,000 square-foot retail property in 2023 for nearly $243 million and announced recent leases with Atlantic Poke, Sweetgreen and Playa Bowls.

The property is currently 99 percent leased, with investment grade tenants accounting for 54 percent of gross rent, according to JLL. Major tenants include T.J. Maxx, Marshalls, HomeSense, Sierra Trading Post, Best Buy and Dick’s Sporting Goods.

JLL represented Urban Edge in obtaining a four-year, fixed-rate mortgage.

“With eight million annual visitors and over $100 million in reported sales volume, Shoppers World has established itself as the number one shopping center destination within a 15-mile radius,” JLL Senior Managing Director Scott Aiese said in a statement.

Urban Edge executives have had preliminary discussions with Framingham officials about redeveloping the Kohl’s store parcel on the northwest corner of the 98-acre site with a 224-unit apartment complex.

Urban Edge owns 72 properties totaling 17.1 million square feet of gross leasable area, including Everett’s Gateway Center, which it acquired from SITE Centers in 2023 along with Shoppers World.