Permanent Loan - Refinance$14,000,000
252,000 SF Class A Industrial Property
Axiom Capital Corporation has arranged a $14,000,000 permanent loan for the refinance of a class A industrial property in Concord, NC. The non-recourse loan was for 13 years at a fixed rate. The property is a newly constructed 252,000+/- square foot industrial building in Concord, North Carolina.
The Subject is strategically situated just 12 miles from downtown Charlotte, the 23rd largest metropolitan area in the United States. The industrial corridor of Derita Road off of I-85 is becoming a favorite of tenants and operators. A newly-built I-85 interchange along with the widening of Derita Road from two lanes to four lanes is accelerating the pace of growth in the submarket. The airport is becoming a popular point of distribution with shippers and retailers, such as Amazon.com.