$185M ReFi Obtained for Northrop Grumman Campus

Douglas Allred Co. secured a $185 million loan to pay off construction financing for its recently completed Northrop Grumman Innovation Systems Campus in Chandler, AZ. Eric Flyckt, Wyatt Campbell and Casey Allred with NorthMarq’s San Diego office secured the fixed-rate, 23-year amortized loan from a life insurance company. The new financing will be used to pay off the initial construction loan.

The Northrop Grumman Campus at 1575 S. Price Rd. is situated on 47 acres, and consists of a 352,545-square-foot office building and a 269,852-square-foot manufacturing facility. The campus opened in November 2019, and serves as headquarters for Northrop Grumman Innovation System’s Launch Vehicle Division.

The development is situated in Douglas Allred Co.’s 200-acre Park Place Business Park. In addition to the Northrop Grumman project, Allred developed 10 other buildings, totaling 1.5 million square feet, which are 96% occupied. The master-planned park also includes restaurants and hotels.

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