Industrial
Debt & Equity

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, 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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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Single-Tenant Flex Building
Debt
$11,400,000