REBusinessOnline

NorthMarq Arranges $2.7M Refinancing for Industrial Building in Urbandale, Iowa

Johnstone Supply owns and occupies the building, located at 11000 Justine Drive.

URBANDALE, IOWA — NorthMarq has arranged a $2.7 million loan for the refinancing of a 52,550-square-foot industrial building in Urbandale. The property is located at 11000 Justine Drive. Steve Ruff and Josh Larsen of NorthMarq arranged the 10-year loan, which features a 20-year amortization schedule, on behalf of borrower Johnstone Supply. A life insurance company provided the loan. Proceeds will be used to fund existing improvements and provide financing for the construction of an 8,000-square-foot addition.

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