PSRS Provides $45M Refinancing for Industrial Property in Commerce, California
COMMERCE, CALIF. — PSRS has provided $45 million in financing for an industrial building in Commerce. Built in 1960 on two acres, the property features 649,000 square feet of owner-user warehouse space.
The building features 32-foot clear heights and a parking ratio of approximately 2.00/1,000 per square feet. Additionally, the property features 75 percent industrial space and 25 percent office. Michael Tanner and Jonny Soleimani of PSRS secured a non-recourse loan with a 10-year term and 30-year amortization.