NorthMarq’s Phoenix office secures $18 million refinance of Scripps Mesa Business Park in San Diego, California
PHOENIX, ARIZONA (March 11, 2021) – James DuMars, senior vice president/managing director of NorthMarq’s Phoenix Debt/Equity office arranged the $18 million refinance of Scipps Mesa Business Park. The 210,000 sq. ft. industrial property is located at 9879, 9889, 9899, 9909, 9919, 9929, 9939 Hibert Street, 9920 & 9950 Scripps Lake Drive and 10675 & 10695 Treena Street in San Diego, California. The transaction was structured with a 7-year interest-only term. NorthMarq negotiated the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
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