NorthMarq Secures $13.5M Refinance For 116,000 Sq Ft Office Building In Rancho Cordova

An office asset located at 2882 Prospect Park Drive in Rancho Cordova, CA, encompasses a total area of 116,000 square feet and sits on 6.3 acres. The property was involved in a refinance transaction totaling $13,500,000.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $13,500,000
• Loan Type: Refinance
• Loan Terms: 5-year
• Address: 2882 Prospect Park Drive
• Market: Rancho Cordova
• Asset Size: 116,000 SF
• Acres: 6.3
• Brokers: Brandy Buttram & Dennis Williams - NorthMarq

The refinancing was secured by NorthMarq’s San Francisco team on behalf of a Bay Area-based borrower. This financial arrangement was facilitated with a regional bank and aims to support tenant improvements for newly signed leases.