Industrial - Debt

NorthMarq Capital’s San Diego office arranges take-out financing for a single-tenant flex building in Phoenix, Arizona

SAN DIEGO – Eric Flyckt, senior vice president/managing director of NorthMarq Capital’s San Diego regional office secured the $11.4 million refinance of a single-tenant flex building located in Phoenix, Arizona. The “take-out” financing was structured with a 10-year term and 30-year amortization schedule with the loan proceeds being used to pay off the construction loan. NorthMarq arranged financing for the borrower through its relationship with a conduit CMBS lender.

This 80,309 sq.ft., institutional-quality, flex building comprises concrete tilt-up exterior walls, large expanses of blue reflective glass window walls, 25-foot clear height, 8.2/1,000 parking ratio and is fully air conditioned.

“The property is leased to a privately-held telecommunications company for 87 months who uses the property as a call center,” said Flyckt. The property possesses an outstanding location immediately south of Sky Harbor International Airport with excellent freeway access.”

Northmarq is a full-service 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 a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.