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Seattle & Northwest  + Seattle  + Finance  |  April 29, 2021
Lisa Brown
By: Lisa Brown

Despite COVID, Financing Continues for Well-Placed Retail

A refinance transaction for Lakeland Commons Retail located at 1502 Lake Tapps Parkway Southeast in Auburn was recently completed, despite the retail challenges brought on by COVID. The $14.5 million transaction was structured on a 10-year fixed loan with a 30-year amortization schedule. The loan was managed by Bob Spiro, senior vice president/managing director, and Scott Moline, vice president, with NorthMarq’s regional Seattle office.

​“We were able to provide retail financing through one of our life company correspondents during a challenging time for the retail sector due to the COVID pandemic,” said Spiro.

​Lakeland Commons Retail is located in the Lakeland Hills neighborhood, a master-planned community in Pierce County. The site offers access from Highway 167, and is located about 30 miles south of Seattle and 14 miles east of Tacoma. The property features a Walgreens and 35,000 square feet of strip retail.

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About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.
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