NorthMarq’s Phoenix office secures $18 million refinance of Scripps Mesa Business Park in San Diego, California
Scripps Mesa Business Park
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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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
