Marcus & Millichap Capital Arranges $11.8M Loan for Sports Complex in North Carolina
WAKE FOREST, N.C. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $11.8 million acquisition loan for The Factory, a 187,695-square-foot retail and sports complex in Wake Forest. One of the largest sports complexes in the country, the public access complex covers more than 35 acres with two full-sized NHL rinks and more than 17 acres of baseball fields. The Factory was 99.8 percent leased at the time of sale to sports centers such as the YMCA of the Triangle, North Wake Baseball Association and Polar Ice House, and retail options like the Village Deli and Grill and Gonza Tacos y Tequila. The complex, built in 1964 and renovated in 2004, consists of five buildings. Jared Cassidy of MMCC’s Washington, D.C., office arranged the loan through a national balance sheet lender. Matt Greenspon of Marcus & Millichap’s Raleigh office consulted on the buy side. The undisclosed buyer purchased the asset for $17.9 million.