Shari Stults, vice president of NorthMarq Capital’s Phoenix-based regional office, arranged acquisition financing of $3,370,000 million for the Interstate Commerce Center, a 83,385 sq. ft. office/warehouse property located at 2929 South Fair Lane, 2415, 2441, 2507 & 2515 West Erie Drive in Tempe, Ariz.
The transaction was structured with a 20-year term and 25-year amortization schedule.
NorthMarq arranged financing for the borrower through its correspondent relationship with Ohio National. Zenem Corporation and ProTek Devices represent the property’s major tenants.
“My clients intend for this acquisition to be a long-term hold and they are pleased with the attractive terms delivered by Ohio National on this exceptional asset,” said Stults.