Northmarq’s Minneapolis office secures $36,000,000 refinance for multi-market industrial portfolio

Industrial Portfolio

MINNEAPOLIS, MINNESOTA (July 27, 2022) – Northmarq’s Minneapolis office, sourced a $36,000,000 loan to refinance a high-quality, six-property industrial portfolio with properties located in Lenexa, Kansas; Tempe, Arizona; and Marietta, Georgia.

The loan was sourced on behalf of the Meritex Industrial Fund IV, a fund managed by The Meritex Company, a 106-year-old, privately held real estate investment and management firm focused on owning, managing, acquiring and developing infill industrial properties. Minneapolis-based Meritex has been a Northmarq client for more than 20 years. Meritex owns and manages a portfolio of 106 industrial properties totaling approximately 11.7 million square feet across nine major U.S. markets.

In May 2022, Meritex closed the commitment period for its new Fund, launched in December 2021, having achieved its goal of $100 million in investor commitments. The Fund is targeting approximately $250 million in industrial investment properties within 10 U.S. target markets.

Northmarq secured the financing for the borrower through its correspondent relationship with a fortune 500 insurance company. Northmarq arranged the permanent fixed loan, which is a 9.5-year term with full-term interest only and at a competitive interest rate.

The six industrial properties total 443,954 sq. ft. and with 25 tenants. The buildings were constructed between 1983 and 2021. The portfolio is currently 100 percent leased.

The Properties:

 9800 and 9850 Britton Street in Lenexa, Kansas: Two multi-tenant Class A industrial buildings totaling 240,000 sq. ft. were developed in 2021. The buildings feature 28-foot clear heights, ESFR, LED lighting, and designed with eco-friendly, insulated wall panels. The site is conveniently located less than a mile from Kansas Highway 10 and Interstate 435. The buildings are 100 percent occupied with nine tenants.

• 6955 and 6965 South Priest Drive in Tempe, Arizona: Two Class B industrial buildings totaling 108,109 sq. ft. The assets are well-located near labor, amenities, and minutes from Interstate 10 and the Sky Harbor International Airport. The buildings are 100 percent occupied with six tenants.

• 805 and 825 Franklin Court in Marietta, Georgia: Two Class B industrial buildings totaling 95,845 square feet. The buildings are highly flexible and well-located with immediate access to Interstates 75 and 285. The buildings are 100 percent occupied with ten tenants.  

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit

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