FedEx-Leased Industrial Property in Everett Secures $17.15 Million Refinance
Gantry has successfully secured a $17.15 million permanent loan to refinance a maturing construction-to-permanent loan for a modern industrial facility that is fully leased to FedEx. The property, located at 7301 Hardeson Road in Everett, Washington, serves as a regional shipping center for the global logistics company.
The 123,000-square-foot warehouse, situated on a 10.5-acre site, was completed in 2019. Following its completion, FedEx entered into a long-term lease agreement for the facility. The refinance loan was arranged on behalf of a private real estate investor by Gantry’s San Francisco production team, led by Principal Tony Kaufmann and Associate Joe Foley.
The 10-year, fixed-rate loan was secured through one of Gantry’s correspondent life insurance company lenders. The structure includes a partial interest-only period followed by a 30-year amortization schedule. Gantry will also service the loan.
“This superlative asset checked every box with our roster of life company correspondents, who compete to finance assets like this with a long-term credit tenant in place, ample debt service coverage, and experienced sponsorship,” said Kaufmann.
This transaction highlights the continued strength of industrial real estate assets—particularly those backed by established credit tenants like FedEx—in today’s financing environment.
