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| Yorba Linda Business Park, La Palma Avenue, Yorba Linda, CA |
LOS ANGELES, CA ––
Holliday Fenoglio Fowler, L.P. (HFF) announced it has arranged $10.2 million in
acquisition financing for Yorba Linda
Business Park, a four-building flex industrial park totaling 115,760 square
feet in Yorba Linda, California.
Working on behalf of the
borrower, Berkeley Partners, HFF placed the 10-year, non-recourse loan with Michael McCool at Chase Commercial
Mortgage Lending. The loan will have a
fixed-rate for the first five years before converting to a floating-rate loan
for the remaining five years. Loan
proceeds were used to pay off a line of credit that was used to acquire the
property 60 days before the loan closed.
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| Jeff Sause |
Situated on approximately
9.1 acres, Yorba Linda Industrial Park is located at 22343, 22345, 22347 and
22349 La Palma Avenue in the foothills of Yorba Linda, a southern California
community southeast of Los Angeles.
The property is near an entry ramp to the
Riverside Freeway and is approximately 40 miles from the Ports of Long Beach
and Los Angeles. Additionally, the
business park has easy access to the southern part of Orange County via the
Foothill Transportation Corridor (241) Toll Road.
Yorba Linda Business Park
features 68 industrial, office and flex units that are 91 percent leased to a
variety of tenants, including The Well, Canyon Crossfit, Global Powersport
Resource, CaliRovers and Central Enterprises.
The HFF debt placement
team representing the borrower was led by director Jeff Sause and senior managing director Kevin Mackenzie.
For a complete copy of the company’s news release,
please contact:
Olivia Hennessey
Public Relations
Coordinator
HFF | 9 Greenway Plaza
Suite 700 | Houston, Texas 77046
tel 713.852.3403 | fax
713.527.8725 | hfflp.com
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