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Boston & New England  + New England  + Office  | 
Marcus & Millichap Capital Corporation has arranged a $3.3-million acquisition loan the office building at 400 Bayonet Street in New London, CT.

Marcus & Millichap Capital Corporation Arrange $3M Buy Loan for New London Office

Marcus & Millichap Capital Corporation has arranged a $3.3-million acquisition loan for the purchase of 400 Bayonet Street, a Class-A multi-tenant office building located in New London, CT.

Robert Damigella with MMCC secured a 10-year fixed loan with a 4.75% interest rate, 30-year amortization and a 75% LTV on behalf of the borrower.

The 1987-constructed, four-story, 35,756-square-foot office building is comprised of 23 office suites and 118 parking spaces. Major tenants at the property include ServiceMaster Restoration, Orkin, FNP Medical Services and State Farm Insurance.

“The CT office market is showing clear signs of improvement and the acquisition of this Class-A property with quality tenancy offers the new owner an opportunity to tap into the sector’s continued recovery.”

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Inside The Story

Marcus & Millichap Capital Corporation's Damigella

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

Step 1: Select Education
  • ◦Sale/Acquisition