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