NorthMarq secures $4.7 million refinance of the Fryar Building in Sumner, Washington

Fryar Building
Debt & Equity
Multi-Tenant
Industrial
Permanent Loan - Fixed
Life Company
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SEATTLE, WASHINGTON (February 1, 2021) – Bob Spiro, senior vice president/managing director and Scott Moline, vice president of NorthMarq’s Seattle office completed the $4.7 million refinance of the Fryar Building. The 49,245 sq. ft. industrial warehouse is located at 1302 Puyallup Street in Sumner, Washington. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.

The property is located just north of Sumner and was built in 1994. The majority of the building is a shell warehouse and the remaining space is office.

“We were able to arrange a 10-year fixed-rate financing for the client that was competitively priced,” noted Spiro. 

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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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