Marcus & Millichap Arranges Tampa-Area Industrial Warehouse Refinancing

Marcus & Millichap Capital Corporation arranged a $5,325,000 loan for the refinancing of an industrial warehouse located at 1600 10th Street South in Safety Harbor, FL. The 113,293-square-foot multi-tenant industrial complex sits on a 10.5 acre lot and is part of the greater Tampa Bay market. 

MMCC’s Garrett Fierstein originated the financing on behalf of the borrower, “Tampa’s industrial market continues to thrive with brisk leasing activity and strong rent growth. We were able to secure a favorable refinancing for our client which will help support their long-term business plan for this high-quality, well-located light industrial warehouse facility.” Terms of the six-year loan include a 6.57% interest rate, one-year interest only period, as well as 65% LTV and 25-year amortization schedule.

Industrial builder Hines recently started work on a 600,000 square foot project in Tampa. Tampa currently has 6.6 million square feet of industrial projects under development.

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