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.
