MIAMI, FL – The Miami office of HFF (Holliday Fenoglio Fowler, L.P.) has arranged a $15.7 million refinancing for eight industrial/warehouse facilities totaling 203,578 square feet in Boca Raton, Florida. Working exclusively on behalf of Lewis Rental Properties, HFF managing director Fred Welker (top right photo) placed two fixed-rate loans with Wells Fargo Commercial Mortgage Originations.
An $8.2 million loan was secured for the South Congress W
arehouses (bottom right photo) and a $7.5 million loan was arranged for the Boca Design Center Phase I (photo at left) .
arehouses (bottom right photo) and a $7.5 million loan was arranged for the Boca Design Center Phase I (photo at left) . Both financings are replacing existing loans with Wells Fargo that were to terminate in 2008. Lewis Rental Properties, with a home office in Boca Raton, has been providing rental warehouse space for the small industrial storage user in the Boca Raton and Deerfield Beach markets for over 30 years.
The South Congress Warehouses consist of three fully leased warehouse buildings totaling 118,800 square feet. The properties are located at 1101, 1121 and 1141 Holland Drive in Boca Raton.
The Boca Design Center Phase I includes five warehouse/flex buildings totaling 84,778 square feet with a 269-unit self-storage fac
ility. The warehouse buildings are 100% occupied and the self-storage units are 90% leased. Located at 3100 Boca Raton Boulevard, the properties are the first phase of a two-phase existing development in Boca Raton.
“South Congress and Boca Design Center Warehouses have enjoyed high occupancies for over a decade. This is attributable to a very experienced leasing and management team at Lewi
s Rental Properties combined with the excellent locations close to Interstate 95 in Boca Raton,” said Welker. HFF (NYSE: HF) operates out of 18 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF offers clients a fully integrated national capital markets platform including debt placement, investment sales, structured finance, private equity, note sales and note sale advisory services and commercial loan servicing.
CONTACTS:
FRED E. WELKER III, HFF Managing Director, (305) 448-1333, fwelker@hfflp.comLAURIE FISH MCDOWELL, HFF Associate Director, Marketing (617) 338-0990 lmcdowell@hfflp.com
No comments:
Post a Comment