CHANDLER, ARIZ. — CBRE has secured $44 million in refinancing for Queen Creek Commerce Center, an industrial complex at 555 E. Queen Creek Road in Chandler.
Bruce Francis, Bob Ybarra, Shaun Moothart, Doug Birrell, Nick Santangelo and Jim Korinek of CBRE Capital Markets Debt and Structured Finance arranged the 10-year loan with a 5.47 percent interest rate and a 65 percent loan-to-value ratio on behalf of the borrower, Schnitzer Properties. A life insurance company provided the funding.
Built in 2022 on 34.5 acres, Queen Creek Commerce Center consists of two industrial buildings featuring 32-foot clear heights, 18 grade-level doors and 122 dock-high doors. Totaling 560,352 square feet, the asset includes a 163,072-square-foot Building A and a 397,280-square-foot Building B. At the time of financing, the property was fully occupied.