{"id":1004750722,"date":"2025-03-17T02:50:01","date_gmt":"2025-03-17T10:50:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004750722"},"modified":"2025-03-17T02:50:02","modified_gmt":"2025-03-17T10:50:02","slug":"mca-realty-refinances-inland-empire-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mca-realty-refinances-inland-empire-park\/","title":{"rendered":"MCA Realty Refinances Inland Empire Park"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Freeway-Industrial-Park.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004750748\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/freeway-industrial-park-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Freeway-Industrial-Park-edited.jpg\" data-orig-size=\"1000,750\" 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;\\u00a9 Yardi Systems, Inc.&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;0&quot;}\" data-image-title=\"Freeway Industrial Park\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Freeway-Industrial-Park-edited.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Freeway-Industrial-Park-edited.jpg\" alt=\"Exterior shot of one of the buildings at MCA Freeway Industrial Park in Riverside, Calif.\" class=\"wp-image-1004750748\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Freeway-Industrial-Park-edited.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Freeway-Industrial-Park-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/03\/Freeway-Industrial-Park-edited.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">Completed in 1966, MCA Freeway Industrial Park comprises 17 buildings with suite sizes ranging from 1,075 to 23,477 square feet. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>MCA Realty has secured $52 million in financing for MCA Freeway Industrial Park, a 17-building property in California\u2019s Inland Empire. Northmarq arranged the five-year, partial interest-only loan through a life insurance company. The note features a sub-6 percent fixed rate and a substantial cashout.<\/p>\n\n\n\n<p>The 481,201-square-foot campus in Riverside provides a diverse array of high-quality spaces that cater to a wide range of tenants, according to Scott Botsford, senior vice president of Debt &amp; Equity at Northmarq.<\/p>\n\n\n\n<p>\u201cAs a result, tenant demand and occupancy have consistently remained strong at the property,\u201d Botsford told <em>Commercial Property Executive<\/em>. \u201cTherefore, our goal was to get our Life Company lending partners to recognize this asset class&#8217;s inherent strength and value and the sponsorship, MCA Realty, to price the loan accordingly.\u201d<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-emerging-industrial-markets\/\">Top 10 Emerging Industrial Markets<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Botsford, together with Managing Director Joe Giordani, led Northmarq&#8217;s Newport Beach Debt + Equity team that secured the deal.<\/p>\n\n\n\n<p>The property was previously subject to a $32 million CMBS loan originated by Wells Fargo Bank in 2017, according to CommercialEdge information. That note was due to mature in 2027.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-an-inland-empire-industrial-park\">An Inland Empire industrial park<\/h2>\n\n\n\n<p>Located at 1600-2060 Chicago Ave. and 1614-1616 Marlborough Ave., the industrial park can easily serve the Riverside, Orange and Los Angeles counties as well as the broader Southern California region as it is freeway accessible.<\/p>\n\n\n\n<p>The Class B asset, developed in phases between 1966 and 1980, has three dock-high doors, 123 roll-up doors and 962 parking stalls. Suite sizes range from 1,075 to 23,477 square feet for its current mix of 120 tenants.<\/p>\n\n\n\n<p>A recent <a href=\"https:\/\/www.commercialsearch.com\/news\/commercialedge-industrial-report-february-2025\/\">CommercialEdge industrial report<\/a> found that Inland Empire&#8217;s vacancy rate clocked in at 7.8 percent in January, up 280 basis points over the year but still slightly below the 8 percent national average. Orange County led the California statistics, with a 5 percent vacancy rate, followed by Central Valley (6.8 percent) and the Bay Area (7.6 percent).<\/p>\n\n\n\n<p>Meanwhile, the market&#8217;s industrial assets were the fourth-priciest in the country. The average price per square foot of $261 trailed only the ones recorded in the Bay Area ($414 per square foot), Orange County ($314 per square foot) and Los Angeles ($294 per square foot).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Northmarq team arranged the $52 million loan.<\/p>\n","protected":false},"author":3568,"featured_media":1004750748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,34027,21742,15],"tags":[35826,34037,50380,33215],"class_list":["post-1004750722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-inland-empire","category-latest","category-west","tag-cmbs","tag-mca-realty","tag-northmarq","tag-wells-fargo-bank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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