Industrial - Debt

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

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. 

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.