Phoenix-based Baker Development Corporation (BDC) and New York’s Foundation Capital Partners (FCP), along with joint venture partner GTIS Partners, have secured a $39 million refinance loan for Yuma|143, a recently completed 490,278-square-foot Class A industrial development in Goodyear. The project cost $45 million to build and achieved 100% occupancy last week after signing the last of three major lease commitments.
A Debt and Structured Finance team from Newmark led by Dustin Stolly arranged the loan which was provided by Arizona Bank & Trust. In early 2022, HelloFresh subsidiary Factor 75 signed a full building 300,100 square foot prelease for 14170 to be used as their food processing operation with significant freezer cooler components. The adjacent 190 178 square foot 14160 building is fully leased between Apex Tool Group and Romac Industries both based out of Maryland.
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