VALMEYER, IL-Admiral Parkway Inc. recently was acquired a $26.5 million refinancing deal for the firm’s build-out work on an office/warehouse for the US National Archives and Records Administration. The original loan was called due, so the Marcus & Millichap Capital Corp. set up the package with a lender offering bond financing.

The administration’s National Personnel Records Center is subleasing 400,000 square feet for 20 years in Admiral’s six-million-square-foot Rock City property, which consists mostly of underground caves. Joseph Koppies, president of Admiral, leases the caves from the city. The property, a former quarry, was turned over to the private sector after the city was rebuilt following the Great Mississippi River Flood of 1993.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 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.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.