NorthMarq’s Newport Beach office arranges $3.92 million acquisition of Elysium Tiles in Palmetto, Florida

NEWPORT BEACH, CALIFORNIA (January 24, 2020) – David Blum, senior vice president/managing director of NorthMarq’s Newport Beach-based regional office negotiated the $3.92 million acquisition for Elysium Tiles. The 131,158 sq. ft. industrial property is located at 2308 U.S. Hwy 301 North in Palmetto, Florida.  

“This was a full relocation of a business to the East Coast. It is an owner-user industrial building.”    

- David Blum 

Financing Details:
- 20-year term
- 20-year amortization schedule
- NorthMarq arranged the permanent-floating loan for the borrower through its relationship with a national bank.  

Property Details: 
- The subject is an 18.12±-acre parcel improved with a 131,158±-square-foot industrial facility built in 1969 (with several additions over the years).  
- The building is a steel frame and metal building on a dock-high foundation, with pitched metal roofs. The main office area is concrete block.