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| Nexus Canyon Research Park, Bothell, WA |
SAN DIEGO, CA – HFF announced today that it has arranged a
$21 million refinancing for Nexus Canyon Park Research Center, a
152,050-square-foot biotech and data center facility in the Seattle suburb of
Bothell, Washington.
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| Tim Wright |
HFF worked exclusively on behalf of San Diego-based Nexus
Properties, Inc. to secure the interest only, fixed-rate loan.
The building is located within the Canyon Park Business
Center just north of Interstate 405, approximately 15 miles northeast of
downtown Seattle. Situated on 6.96
acres, the two-story property is 97 percent leased to tenants including
T-Mobile, Epoch Pharmaceuticals and Acucela.
HFF’s debt placement team representing the borrower was led
by senior managing director Tim Wright and associate director Zack
Holderman.
“The borrower originally purchased the property completely
vacant in 1999 and immediately expanded and repositioned it to accommodate
laboratory and data center use. The
tremendous investment into the asset, by both the tenants and owner, made the
opportunity very attractive for the lender,” commented Wright.
Founded in 1979, Nexus Properties, Inc. is a developer of
high-quality corporate facilities, biotech laboratories and flex research and
development properties throughout California, Washington and other
markets. www.nexusprop.com.
For a complete copy of the company’s news release, please
contact:
Olivia Hennessey
HFF | 9 Greenway Plaza, Suite 700 | Houston, TX 77046
tel 713.852.3403 | fax 713.527.8725 | www.hfflp.com
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