Updated Aug 28, 2025
Zack Streit of Priority Capital Advisory Secures $12.75M Refinance From Farmers & Merchants Bank
39700 Balentine Drive
$12,750,000
$115/SF
Building Size
110,540 SF
Asset Type
Retail
Closing
Aug 18, 2025
About this deal
AI
The retail asset located at 39700 Balentine Drive in Newark encompasses 110,540 square feet and is involved in a refinancing transaction amounting to $12,750,000.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $12,750,000
- Lender: Scott Lorenzini - Farmers & Merchants Bank of Long Beach
- Landlord: Blaine Emmons - Nearon Enterprises
- Broker: Zack Streit - Priority Capital Advisory
- Loan Type: Refinance
This transaction involves Blaine Emmons of Nearon Enterprises acting as the landlord in the refinancing deal with Scott Lorenzini representing Farmers & Merchants Bank of Long Beach as the lender. Zack Streit from Priority Capital Advisory served as the broker for this transaction.
Players
Newark Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.24%
Cash-on-Cash
-0.36%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93