{"id":1004200933,"date":"2017-12-18T08:22:01","date_gmt":"2017-12-18T16:22:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004200933"},"modified":"2022-12-08T11:51:01","modified_gmt":"2022-12-08T19:51:01","slug":"office-industrial-az-portfolio-lands-86m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/","title":{"rendered":"Office-Industrial AZ Portfolio Lands $86M"},"content":{"rendered":"<p>By IvyLee Rosario<\/p>\n<div id=\"attachment_1004200939\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Scottsdale-Spectrum.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004200939\" data-attachment-id=\"1004200939\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/scottsdale-spectrum\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Scottsdale-Spectrum.jpg\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Scottsdale Spectrum, Scottsdale, Ariz.\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Scottsdale Spectrum, Scottsdale, Ariz. &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Scottsdale-Spectrum.jpg?w=400\" class=\"wp-image-1004200939 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Scottsdale-Spectrum.jpg\" alt=\"Scottsdale Spectrum, Scottsdale, Ariz. \" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Scottsdale-Spectrum.jpg 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Scottsdale-Spectrum.jpg?resize=300,233 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004200939\" class=\"wp-caption-text\">Scottsdale Spectrum, Scottsdale, Ariz.<\/p><\/div>\n<p>Globe Corp. has secured $86 million for a four-property portfolio comprising two Class A office buildings and two industrial warehouses in Phoenix, Tempe and Scottsdale, Ariz. Walker &amp; Dunlop structured three\u00a0long-term, fixed-rate loans, which were closed with three separate life insurance companies.<\/p>\n<p>The portfolio totals 709,033 square feet of rentable space at the following locations:<\/p>\n<ul>\n<li>Scottsdale Spectrum: $60 million, office\u00a0<\/li>\n<li>101 Corporate Center: $7.5 million, office\u00a0<\/li>\n<li>8990 South Kyrene Road: $10 million, industrial\u00a0<\/li>\n<li>Riverside Commerce Park: $8.5 million, industrial\u00a0\u00a0<\/li>\n<\/ul>\n<p>The loan for 101 Corporate served as acquisition financing, while the remaining two loans were refinances. Debt for the two industrial warehouses were consolidated into a single loan structure.\u00a0Each property is located near major thoroughfares, retail and restaurants. The assets are within close proximity to major employers such as Farmers Insurance, Honor Health, General Dynamics, Northern Trust, State Farm, Vanguard, Mayo Clinic and CVS.<\/p>\n<p><em>\u201cWe were honored to win this portfolio assignment from Globe, as they are great friends and valued clients. This portfolio was a unique assignment; each property and loan structure was distinct, yet we were able to arrange financing options to address the future business plans of Globe Corp.<\/em>,\u201d said Jim Pierson, senior vice president at Walker &amp; Dunlop.\u00a0<\/p>\n<p>Pierson\u00a0along with Keaton Merrell\u00a0led the team in arranging the debt\u00a0on behalf of Globe. Last month,\u00a0Walker &amp; Dunlop structured a $8.1 million construction loan for Preferred Storage, a 101,533-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/fl-self-storage-project-receives-8m-loan\/\">self-storage facility in Plantation<\/a>, Fla.\u00a0<\/p>\n<p><em>Image courtesy of Walker &amp; Dunlop\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Working on behalf of Globe Corp., Walker &amp; Dunlop structured three long-term, fixed-rate loans for four properties in Phoenix, Scottsdale and Tempe, Ariz.<\/p>\n","protected":false},"author":746,"featured_media":1004200939,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,21742,21747,1601,15],"tags":[38625,38635,34573],"class_list":["post-1004200933","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-latest","category-office","category-phoenix","category-west","tag-globe-corporation","tag-jim-pierson","tag-walker-and-dunlop"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Office-Industrial AZ Portfolio Lands $86M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Office-Industrial AZ Portfolio Lands $86M\" \/>\n<meta property=\"og:description\" content=\"Working on behalf of Globe Corp., Walker &amp; Dunlop structured three long-term, fixed-rate loans for four properties in Phoenix, Scottsdale and Tempe, Ariz.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-12-18T16:22:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T19:51:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Scottsdale-Spectrum.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"400\" \/>\n\t<meta property=\"og:image:height\" content=\"310\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"IvyLee Rosario\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/\",\"name\":\"Office-Industrial AZ Portfolio Lands $86M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Scottsdale-Spectrum.jpg\",\"datePublished\":\"2017-12-18T16:22:01+00:00\",\"dateModified\":\"2022-12-08T19:51:01+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Scottsdale-Spectrum.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/12\/Scottsdale-Spectrum.jpg\",\"width\":400,\"height\":310,\"caption\":\"Scottsdale Spectrum, Scottsdale, Ariz.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/office-industrial-az-portfolio-lands-86m\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Office-Industrial AZ Portfolio Lands $86M\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/f2094ece0e063845f848c7f1c7b84780\",\"name\":\"IvyLee Rosario\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/IvyLee_Rosario.jpg?w=67\",\"caption\":\"IvyLee Rosario\"},\"description\":\"IvyLee Rosario is a Senior Associate Editor for Commercial Property Executive and Multi-Housing News. 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