MIAMI-Wells Fargo Commercial Mortgage Origination of San Francisco is providing a $5.8 million, adjustable-rate loan to Denholtz Associates of Rahway, NJ on Brandwine Center I, a three-story, 69,708-sf, 87% leased office/restaurant complex in West Palm Beach, FL. The interest rate wasn't disclosed.
Denholtz uses a portion of the 5.5-acre property for its Florida headquarters. The site is just west of Interstate 95 off Brandywine Road at 580 Village Boulevard. Denholtz has purchased 3.5 million sf of commercial assets in the past 12 months with 1.2 million sf located in Florida.
The building has 60,608 sf of office and a 9,100-sf T.G.I Friday's restaurant. Among the office tenants are Northern Trust, Portamedic and General American Insurance.
The Boca Raton, FL office of Holliday Fenoglio Fowler brokered the loan.
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