KNOXVILLE, TN-Pellissippi South, LLC has received a $20.3-million for One Lakeside Centre and Three Lakeside Centre. The financing will be used to pay down existing debt, according to Prudential Mortgage Capital Co.
Michael Doran of Prudential's Atlanta office originated the loan. The deal carries a 10-year term and amortizes over a 30-year period.
One Lakeside Centre is a two-story, 62,250-sf asset that was built in 2002. Three Lakeside Centre is a three-story, 99,464-sf asset that was built in 2004. The properties' combined 161,714 sf is 99% occupied.
According to GlobeSt.com research, the office properties were built by Merit Construction, Inc. One Lakeside Centre was designed by Byrd & Cooper. Three Lakeside Centre was designed by Johnson Architecture and was the second asset built at the Lakeside Centre complex. The complex is in close proximity to Interstates 40, 75 and 81.
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