Deutsche Banc Mortgage Capital is providing the loan, which isworth nearly $6 million. The financing, which was arranged by JamieDick of Burnham Real Estate Services' capital markets group, willenable McMahon to acquire South Bay Distribution Center, a118,000-sf industrial property that stands at 684-698 Anita St. inChula Vista.

The refinancing comes as interest rates are low and San DiegoCounty's industrial market is on the rebound. Over the past severalmonths, some sizable industrial transactions have been reportedhere, including Harsch Investment Properties' $20.5-millionacquisition of Loma Business Center in San Diego and StellarProperties' $15.2-million purchase of the 206,000-sf CarlsbadDistribution Center in Carlsbad.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.