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  • Chandler Independent

    Financing secured for industrial buildings in South Chandler

    By (),

    2024-06-07

    https://img.particlenews.com/image.php?url=0oOwYV_0tjQ8iHU00

    CBRE recently announced the firm has secured $44 million in refinancing for Queen Creek Commerce Center, a two-building complex at 555 East Queen Creek Road in Chandler, according to a news release.

    CBRE’s Capital Markets Debt and Structured Finance team secured the 10-year term loan with 5.47% interest rates and a 65% loan to value on behalf of Schnitzer Properties.

    A life insurance company provided the funding.

    The center was built in 2022 and includes two industrial buildings that feature 32-foot clear heights, 18 grade-level doors and 122 dock-high doors. A 163,000-square-foot building and a nearly 400,000-square-foot building sit on about 34.5 acres.

    The property is currently fully occupied.

    According to CBRE research, the Phoenix industrial market remains vibrant due to high leasing activity, new supply and increased tenant demand, the release states.

    We’d like to invite our readers to submit their civil comments on this topic.  Email AZOpinions@iniusa.org .

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