ESCONDIDO, CALIF. — Gantry has secured a $21 million permanent loan to refinance the San Diego County’s North Inland Live Well Center, located at 649 W. Mission Ave. in Escondido within the North County suburb of San Diego.
The 111,000-square-foot, build-to-suit office facility was redeveloped for its current use in 2015 from a big box retail building formerly occupied by Office Depot and Albertsons. The fully leased property houses the County’s Health and Human Services Agency community-facing programs, as well as retail space occupied by restaurant tenants.
Spencer Fisher of Gantry represented the borrower, a private real estate investor responsible for the property’s original redevelopment. The 10-year, CMBS loan was secured from one of Gantry’s conduit lending sources and features a 30-year amortization and nonrecourse terms.