The buildings, which are 95% occupied, are located at 14591 and 14642 Newport Ave. The facility that stands at 14591 Newport Ave. encompasses 18,000 sf. It was built in 1975. The property located at 14642 Newport Ave. was built in 1986. It encompasses 48,000 sf.
Financing was arranged by the Los Angeles office of Minneapolis-based NorthMarq Capital Inc. Northmarq's Michael T. Elmore and Richard F. Scandaliato arranged the financing.
Northmarq is a national real estate investment banker that provides financing for commercial real estate properties, including office, retail, industrial and multifamily. The company arranges traditional fixed rate loans, variable rate bridge loans, joint ventures and equity sales.
In 2000, Northmarq produced more than $3.5 billion of commercial real estate financing and equity transactions.
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