LOS ANGELES, CALIFORNIA (December 2, 2019) – David Blum, senior director of NorthMarq’s Los Angeles office arranged acquisition financing of $3.4 million for Golden Valley Business Park. The property is located at 13914-13932 East Valley Boulevard in La Puente, California.
– 10-year fixed-rate term
– 30-year amortization schedule
– NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with a credit union.
– The industrial property contains 58,084 sq. ft.
– The subject is comprised of two concrete tilt-up buildings with clear heights up to 15 feet, wet sprinkler system and 30 grade level doors.
– Improvements to the property were originally installed in 1978, renovated in 1988 and the building exteriors and common areas were recently renovated in 2011.
– The buildings are situated on a 2.8 acre site.
– The two buildings are 22,756 sq. ft. and 35,328 sq. ft. with office area being approximately 10 percent.