Northmarq secures $3.35 million for the refinance of Bowlin Industrial in Walton, Kentucky

CINCINNATI, OHIO (June 7, 2022) - Jeff Dietz of Northmarq's Cincinnati office secured $3,350,000 for the refinance of Bowlin Industrial, a newly constructed, single-tenant, 26,800 sq. ft. industrial/flex property in the Cincinnati MSA. The building was built-to-suit for its tenant: Bowlin Group. It is located at 3 Hoop Drive in Walton, Kentucky among a booming industrial area. Bowlin Industrial is the first building completed in the Inland Logistics Park, which features 350-acres of remaining available land, a re-configured exit off of I-75/71 to expedite truck flow traffic, and two major railways bordering the west and east ends of the site.

Bowlin Group had been searching for a building to expand their business into for nearly five years until they decided to engage the Borrower to develop the Subject custom for them. This allowed the Bowlin Group to size the property to fit their growing company and include features to assist in their operations. Upon completion of construction, the Borrower seeked to refinance the existing construction loan. Dietz sourced the permanent loan through Northmarq's strong relationship with a life company. The loan is structured on a 20-year term with a 20-year amortization.