COLUMBIA, MD-A financing package in the amount of nearly $2.2 million has been put together for the acquisition of a 33,500-sf industrial property at 6798 Oak Hall Lane. Holliday Fenoglio Fowler closed the deal on behalf of borrower and buyer Velsor Fund II FSY, which is controlled by Velsor Properties.

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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