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| Ryan Ade |
PHILADELPHIA, PA, Nov. 18,
2015 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has
arranged a $28 million refinancing for a portfolio of two fully-leased
industrial shallow bay warehouse and office buildings totaling 246,790 square
feet in the Philadelphia suburb of Horsham, Pennsylvania
HFF worked on behalf of
the borrower, an affiliate of Endurance Real Estate Group, LLC, to secure the
10-year, fixed-rate loan through Silverpeak Real Estate Finance. Loan proceeds will refinance existing debt.
The 100-percent-leased
portfolio consists of 200 Precision Drive and 425 Privet Road in the
Pennsylvania Turnpike Corridor in Horsham, a community 19 miles north of
Philadelphia’s CBD.
The properties are adjacent to one another and
are approximately three miles from Interstate 276 (Pennsylvania Turnpike) via
exit 343, which provides access to Interstates 76, 476 and 95.
The 126,500-square-foot
200 Precision Drive contains 63,000 square feet of warehouse space in addition
to 49,400 square feet of office space and a 14,200-square-foot laboratory.
 |
| Campbell Roche |
The building is housed on 11.13 acres and is
leased to Finisar Corporation, C&D Technologies and DrugScan. Fully-leased to Teva Pharmaceuticals, 425
Privet Road underwent an expansion in 2008 to expand the asset to its
current-day 120,290 square feet.
Situated on 13.1 acres, the property contains 615 parking spaces.
The HFF team representing
the borrower was led by managing director Ryan
Ade and associate director Campbell
Roche.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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