IPA Capital Markets, a division of Marcus & Millichap, specializing in capital markets services for major private and institutional clients, announced today the $12,095,000 million construction financing of Avondale Logistics Center, an 86,372 square-foot industrial asset located at 725 North Eliseo Felix Junior Way in Avondale, Arizona.
Frank Montalto, managing director in the firm’s Chicago office secured the financing with Thorofare Capital on behalf of a Phoenix-based development and investment company that specializes in residential, commercial and mixed-use developments on the west coast.
“Industrial remains one of the nation’s most sought-after asset classes, and when paired with a top-tier development firm focused on growth markets and supply-demand fundamentals, the results speak for themselves. This combination, paired with market leading debt financing, allows for exceptional deal performance and long-term success.”
Terms of the two-year construction loan include fully capitalized TI/LC holdback along with flexible prepayment structure.
The property includes 1,560 square-feet of dedicated office space and 14 loading docks. It is designed to accommodate a variety of industrial operations such as warehousing, distribution, manufacturing and assembly.
About IPA Capital Markets
IPA Capital Markets is a division of Marcus & Millichap (NYSE: MMI). IPA Capital Markets provides major private and institutional clients with commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, and sponsor equity. For more information, please visit institutionalpropertyadvisors.com/capital-markets
