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| Nexus Canyon Park Research Center, Bothell, WA |
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| Olga Walsh |
SAN DIEGO, CA – Aug. 22,
2017 – Holliday Fenoglio Fowler, L.P. (HFF) announces a $17.8 million
refinancing of Nexus Canyon Park Research
Center, a 141,982-square-foot life science and flex/R&D building in the
Seattle suburb of Bothell, Washington.
The HFF team worked on
behalf of the borrower, San Diego-based Nexus Properties, Inc. to secure the
non-recourse, three-year, floating-rate loan through one of its bank
relationships.
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 37.8 percent leased to Epoch Pharmaceuticals, Qilu Puget Sound
Biotherapeutics Corp. and Acucela.
Having recently undergone a repositioning of
approximately half of the building area, the loan facility will provide
adequate dollars to finish the lease-up and stabilization of the asset.
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| Zack Holderman |
“The quality and
commitment of Nexus Properties to the asset allowed us to identify a qualified
lender to provide a strong non-recourse loan to complete the business plan,”
said Holderman.
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 more information on this news release, please
contact:
Kristen M. Murphy
Director, Public Relations
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
krmurphy@hfflp.com
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