Retail - Debt

NorthMarq refinances $1.58 million retail property in Brooklyn Park, Minnesota

MINNEAPOLIS, MINNESOTA (March 22, 2021) – Michael Padilla, vice president of NorthMarq’s Minneapolis office secured the $1,580,000 acquisition of 4 Wheel Parts. The retail property has 12,000 rentable sq. ft. and is located on 6771 Boone Avenue North, Brooklyn Park, Minnesota. 4 Wheel Parts located in a very traffic-heavy area near the intersection of two major highways in Minnesota. 

The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with a credit union.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.