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Brokerage
Posted: September 22, 2008
Stewart, Morris and McMahon of David Cronheim Mtge. arrange $7m in financing
Andrew Stewart, Dev Morris and Lisa McMahon of David Cronheim Mortgage Corp. have secured financing of $7 million for Rusten Corporate Park, an industrial/office property. The loan has a 15-year term interest only for the first seven years and a 25-year amortization period thereafter.
The subject is a three-building, 153,760 s/f industrial and office property located on 11.28 acres. There is a breakdown of 75% industrial, 25% office for the subject. The building's warehouse areas have 18-20 ft. ceiling heights and 40'x40' column spacing. The buildings have been maintained and landscaped, giving the property a corporate office park appearance. The subject is located on Red Schoolhouse Rd.
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