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Phoenix & Southwest  + Phoenix  + Industrial  |  June 3, 2024
Queen Creek Commerce Center
Mike Boyd
By: Mike Boyd

CBRE Obtains $44M Refi for Queen Creek Business Park

CBRE has secured $44 million in refinancing for Queen Creek Commerce Center, a two-building complex at 555 East Queen Creek Road in Chandler, Ariz. A team led by Bruce Francis secured the 10-year 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 consists of two industrial buildings featuring 32-foot clear heights, 18 grade-level doors and 122 dock-high doors across 34.54 acres. In total, there are 560,352 rentable square feet. Building A has 163,072 square feet, and Building B has 397,280 square feet. 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.

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Inside The Story

Schnitzer

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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  • ◦Financing