1000-S-Central-Ave-Glendale-CA

Marcus & Millichap Arranges $11.2M Refinancing for Joann-Occupied Building in Glendale, California

by Amy Works

GLENDALE, CALIF. — Marcus & Millichap Capital Corp. (MMCC) has secured $11.2 million in refinancing for a single-tenant retail building, located at 1000 S. Central Ave. in the Los Angeles suburb of Glendale.

Joann, a fabric and crafts retail chain that recently declared bankruptcy, occupies the property.

Ron Bayls of Marcus & Millichap Capital Corp. arranged the 10-year loan, which includes a 5.97 percent interest rate with a 30-year amortization and 50 percent loan-to-value ratio.

You may also like