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

by Katie Sloan

Glendale, Calif. — Marcus & Millichap Capital Corp. 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.

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