Phoenix-based Baker Development Corporation (BDC), and New York’s Foundation Capital Partners (FCP), along with joint venture partner GTIS Partners, have secured a $39 million refinance loan for Yuma|143, a recently completed, 490,278-square-foot Class A industrial development in Goodyear. The project cost $45 million to build. The project reached 100% occupancy just last week, with the last of three major lease commitments. 

A Newmark Debt and Structured Finance team led by Dustin Stolly arranged the loan. Arizona Bank and Trust provided the loan.

In early 2022, the project secured a full-building, 300,100-square-foot pre-lease for the entire 14170 building from HelloFresh subsidiary Factor 75 for its food processing operation, which includes a significant freezer-cooler component.

The adjacent, 190,178-square-foot 14160 building is fully leased to two tenants. Maryland-based Apex Tool Group and Romac Industries.

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