Wednesday, March 1, 2017
FALLS CHURCH, VA, March 1, 2017 – Spence Hill Associates announced today that it has arranged a $2,625,000 mortgage loan for the acquisition of a retail property located at 2-10 East Glebe Road, Alexandria, Virginia.
Michael H. Trauberman, Managing Director of Spence Hill Associates, arranged and negotiated the financing on behalf of the purchaser, McLean Village LLC. The 10-year loan was placed with a Virginia-based bank and features an initial five-year fixed interest rate of 3.91%.
2-10 East Glebe Road is a 9,660 square foot retail property situated on 25,627 square feet of land. The property is located at the corner of East Glebe Road and Commonwealth Avenue on the border of the Del Ray and Arlandria neighborhoods in Alexandria.
Tenants include Northside 10, Alexandria Community Health Services and Auburn Cleaners. Northside 10 is the newest neighborhood restaurant and bar from Meridian Place Food Group, owners of Southside 815 in Old Town.
Spence Hill Associates, a real estate investment banking firm founded in 1993, arranges the financing and sale of commercial real estate, and provides financial advisory services to real estate owners, developers, and institutions throughout the United States. Spence Hill Associates is headquartered in Falls Church, Virginia.
For a complete copy of the company’s news release, please contact:
Spence Hill Associates
323 N. Underwood St., Suite 200
Falls Church, VA 22046
Posted by Alex at 10:55 AM