LOS ANGELES, CALIFORNIA (December 2, 2019) – David Blum, senior director of NorthMarq’s Los Angeles office secured $3.8 million in acquisition financing for an industrial Building. The property is located at 2365 Railroad Street in Corona, California.
– 10-year term
– 25-year amortization schedule
– NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
– This was a sale-leaseback for a single tenant.
– Concrete tilt-up industrial building constructed in 1998, situated on a 2.27 acre parcel
– The property is 100 percent occupied by a single tenant who has occupied the building since 2003.
– Total office area is approximately 5,000 sq. ft.
– There are three ground level doors and one interior truck well. Clear height is 26′ and the building is fully sprinklered.