The property, which recently saw completion of a renovation project by owner 541 Industrial Way West LLC and is currently 100% leased, received a 10-year, fixed-rate package, according to HFF's Anthony M. Cuccia, who arranged the deal.
"We secured a forward commitment for long-term permanent financing from a correspondent life company lender," according to Cuccia, "and the interest rate was locked at the time of loan application. We were also able to negotiate two extensions of the lender's commitment because of construction delays as additional improvements were made to the building."
Nationally, the Houston, TX-based Holliday Fenoglio Fowler has transacted more than $34 billion in financing and investment sales over the last three years.
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