Marcus & Millichap Capital Corp. Arranges $7.1M Refinancing For Bay Area Industrial Property

Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $7,100,000 for the refinancing of an industrial property located at 2225 Grant Avenue in San Lorenzo, California.

First Vice President Bradley Buzil in MMCC’s Los Angeles office worked with Associate Director Connie Duong to secure the financing with a local credit union.

“Our client achieved outstanding terms amidst a rising interest rate environment,” said Buzil. “The lender demonstrated unwavering commitment by closing the deal at the exact rate and terms outlined in the Letter of Intent (LOI). Notably, we secured a substantial cash-out for the client while simultaneously locking in a new 6.5%, 5-year fixed interest rate with a 30-year amortization.”

The property spans 63,245 square feet and is occupied by Feng Transportation Inc., a wholesaler and third-party logistics company that specializes in products sourced from overseas markets. Central to their operations is an Amazon fulfillment center within the building, in addition to the storage of these products.