SEATTLE, WASHINGTON – Bob Spiro, senior vice president/managing director and Scott Moline, vice president of NorthMarq’s Seattle office completed the $4.7 million refinance of the Fryar Building. The 49,245 sq. ft. industrial warehouse is located at 1302 Puyallup Street in Sumner, Washington. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
The property is located just north of Sumner and was built in 1994. The majority of the building is a shell warehouse and the remaining space is office.
“We were able to arrange a 10-year fixed-rate financing for the client that was competitively priced,” noted Spiro.
As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.