HFF Secures $17M Refi for Sacramento Facility
- Apr 25, 2019
HFF has arranged $16.9 million in refinancing for Parkway Industrial Crossing, a 302,400-square-foot, value-add industrial project in Sacramento, Calif. The firm worked on behalf of the borrower, The Bendetti Co., to arrange the two-year floating rate loan with three one-year extension options. The borrower aims to convert the single-tenant building in the West Sacramento submarket into a multi-tenant industrial facility.
Located at 3689 Industrial Blvd., the facility is in Sacramento’s emerging industrial market, just off the intersection of Interstate 80 and Freeway 50, around 5 miles from the city’s downtown. Additionally, Parkway Industrial Crossing is within 14 miles of Sacramento International Airport.
The industrial asset features 47 dock-high doors with levelers, 22- to 26-foot clear heights, grade-level access, concrete aprons and a truck court. Besides these, the facility also includes 14,000-square-foot office space and a 1.5-acre vacant development site.
HFF’s Senior Director John Chun led the firm’s debt placement team in the transaction.