Continental Partners Refinances $23M Loan For Industrial Facility In Carson | 717 East Artesia Boulevard | Dave Brelian, JM Grimaldi | Industrial | Loan

Summary

Loan

CALIFORNIA

Industrial

97,000 sqft

An industrial, cold storage, and food processing facility located at 717 East Artesia Boulevard in Carson, California has undergone a $23,000,000 loan refinance. The property spans 97,000 square feet.

Summary of transaction details

Property Type: Industrial
Transaction Amount: $23,000,000
Address: 717 East Artesia Boulevard, Carson
Market: Carson

Continental Partners, a lender, provided non-recourse, full-term interest-only financing for the property. JM Grimaldi and Dave Brelian from Continental Partners represented the owner-user, Cedar Lane Foods, a major manufacturer associated with well-known brands such as Costco, Trader Joe's, and United. The 5-year fixed loan replaced a bridge debt of nearly $18 million that was previously placed on the property.

Players

All
3

Agents
2
Agencies
1

Dave Brelian

Associate

JM Grimaldi

Executive Vice President

Continental Partners

Details

Deal Summary

FINANCED

IMAGE: JM Grimaldi & Dave Brelian DATE: 01/19/2024 ADDRESS: 717 East Artesia Boulevard MARKET: Carson ASSET TYPE: Industrial ~ SF: 97,000 LENDER: Continental Partners LANDLORD: Robert Atallah LENDER'S REP: JM Grimaldi (@Watchtog) & Dave Brelian (@DaveBrelian) - Continental Partners (@ContiPartners) LOAN AMOUNT: $23,000,000 LOAN TYPE: Refinance LOAN TERMS: 5-years fixed, interest only NOTE FROM LENDER'S REP: Continental Partners successfully placed another $23,000,000 in non-recourse, full term interest-only, permanent financing for a 97,000 square foot industrial, cold storage and food processing facility in Carson, California. Continental’s JM Grimaldi and David Brelian represented the owner-user, @cedarlanefoods who is a major manufacturer behind recognizable brands like @costco @traderjoes and @united. This new 5-year fixed debt product retired the almost $18 million in bridge debt they placed on the subject some twelve months prior.

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Address717 East Artesia Boulevard

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