Washington Mutual Bank is providing the financing, which comes in the form of a five-year, fixed-rate loan. Located on a nearly three-acre parcel just off I-95, 6798 Oak Hall was built in 1981 and carries a current assessed value of about $1.9 million.
"The property is fully leased to a single tenant with a below market rent, however there are only three years remaining on the lease with no option to extend," says HFF senior managing director Bill Asbill. "HFF was able to arrange a five-year, fixed rate deal with softened pre-payment terms and limited tenant improvement and leasing commission escrow requirements." According to Howard County records, the full price of the acquisition was $3.2 million.
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