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Gantry Secures $12M for Everett Industrial Park
Gantry has secured an $11.9 million permanent loan to refinance Dogwood Enterprises Industrial Park, located at 3200 35th Ave. NE in Everett, Washington, north of Seattle.
The four-building property offers 106,686 square feet, direct access to I-5, and is situated on a total of 31.6 acres, 12 of which are undeveloped. The park is leased to a single tenant.
Gantry’s Mike Wood, Principal, Demetri Koston, Principal, and Tim Brown, Senior Associate, with the firm’s Seattle and Spokane production offices, represented the borrower, a private real estate investor. The 10-year, fixed-rate loan was secured from a credit union and has prepayment flexibility and 25-year amortization.
“This was a challenging assignment that resulted in a great loan outcome for a legacy hold,” said Koston. “It is an older property with four industrial buildings originally built in 1969, but offering 12 acres of undeveloped property and direct access to the I-5, ready access to the Port of Everett, and a strategic Seattle-adjacent location just 80 miles south of the Canadian border.”
