MANHATTAN BEACH, CA-Sonnenblick-Eichner Co. has arranged $27 million of first-mortgage financing on behalf of an affiliate of Continental Development Corp. for 1500 Rosecrans Ave., a 123,000-square-foot office building located within Continental Park business park here. The 10-year, fixed-rate, non-recourse financing was placed with a life-insurance company at a rate of less than 5%. The loan provided two years of interest-only payments.

The property is located on the Rosecrans corridor within the business park, which holds more than 2.5 million square feet of office, warehouse, restaurant and retail space. Tenants at the property include Deloitte, Luther Burbank Savings and 24-Hour Fitness.

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