Washington Mutual Bank is providing the financing, which comesin the form of a five-year, fixed-rate loan. Located on a nearlythree-acre parcel just off I-95, 6798 Oak Hall was built in 1981and carries a current assessed value of about $1.9 million.
"The property is fully leased to a single tenant with a belowmarket rent, however there are only three years remaining on thelease with no option to extend," says HFF senior managing directorBill Asbill. "HFF was able to arrange a five-year, fixed rate dealwith softened pre-payment terms and limited tenant improvement andleasing commission escrow requirements." According to Howard Countyrecords, the full price of the acquisition was $3.2 million.
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