Industrial - Debt

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. 

Northmarq is an industry-leading 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 an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.