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8/23/17
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Nexus Properties has landed $17.8 mil in refi money for Nexus Canyon Park Research Center, a 142k sf life science and flex/R&D building in the Seattle suburb of Bothell, WA. The building is located within the Canyon Park Business Center just north of I-405, approximately 15 miles northeast of downtown Seattle.
Situated on 6.96 acres, the two-story property is 37.8% leased to Epoch Pharmaceuticals, Qilu Puget Sound Biotherapeutics Corp. and Acucela. Having recently undergone a repositioning of approximately half of the building area, the loan facility will provide adequate dollars to finish the lease-up and stabilization of the asset.
HFF’s Tim Wright, Zack Holderman and Olga Walsh arranged the non-recourse, three-year, floating-rate loan through one of its bank relationships.
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