Columbia, Md. – Spence Hill Associates has arranged $1.2 million of acquisition financing for a retail property in Columbia. The property is net-leased to 7-Eleven Inc.
5740 Columbia Road in Columbia, Md., is net-leased to 7-Eleven Inc.Columbia, Md. – Spence Hill Associates has arranged $1.2 million of acquisition financing for a retail property in Columbia. The property is net-leased to 7-Eleven Inc.
Michael Trauberman, managing director of Spence Hill Associates, arranged and negotiated the financing on behalf of the purchaser, Columbia Village LLC of Vienna, Va. The 10-year loan was placed with a Virginia-based bank and features an initial five-year fixed interest rate of 3.90 percent.
5740 Columbia Road consists of a 3,153-square-foot, free-standing 7-Eleven situated on 23,566 square feet of land. The property is located less than one-quarter of a mile from Little Patuxent Parkway. The center has a three-mile radius population of 90,694 and median household income of $92,875.
— Scott Reid