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Joe Maehler Joe Maehler says Buchanan found the merits of a bridge loan transaction compelling.

PUYALLUP, WA—As with the Seattle metro as a whole, the local market has experienced significant economic and population growth in recent years, underscoring the need for quality retail. One redevelopment project is nearing completion but required a quick bridge loan in the process.

The $16 million non-recourse bridge loan for Net Lease Alliance will be used to complete the construction of the 125,100-square-foot retail center. The project involves the redevelopment of a former big-box store that is 100% pre-leased to 24 Hour Fitness and At Home, a publicly traded home décor retail chain.

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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