CBRE has successfully secured a $30 million refinancing deal for the Dixon Commerce Center, a 447,042-square-foot warehouse located in Dixon. This privately held real estate investment property is owned by Nearon Enterprises and is situated just 23 miles away from Sacramento.
The CBRE Capital Markets Debt and Structured Finance team, consisting of Shaun Moothart, Bruce Francis, Doug Birrell, Bob Ybarra Nick Santangelo and Jim Korinek worked together to secure this non-recourse loan with a fixed-interest rate through a large regional bank.
Despite market volatility during negotiations for lease extension with the tenant at Nearon Enterprises’ property in question – located at 2299 Commerce Way – CBRE was able to secure financing from the aforementioned regional bank. This further proves that banks are still actively lending on commercial real estate properties belonging to top-tier sponsors like Nearon Enterprises.
This single-tenant building was constructed in two phases (1997 & 2007) on an expansive land area of approximately 29.79 acres. In addition to its prime location near Sacramento’s bustling city center,the building also underwent renovations back in2019 – making it an attractive asset for potential investors looking into commercial real estate opportunities within this region.
