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8/03/26
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A two-building, infill light industrial property in Santa Clara was refinanced with a new $9.65 mil permanent loan.
Located at 2290 De La Cruz Blvd, the property is 100% leased on a long-term basis to a national auto collision repair business. The property features a total of 37.6k sf in two buildings, inclusive of a recently constructed 11.5k sf building addition.
Tony Kaufmann, Principal, and Jake Davis, Associate, with the Gantry’s San Francisco production office represented the borrower, a private real estate investor. The 10-year, fixed rate, non-recourse loan was secured from an insurance company lender with 30-year amortization. Gantry will service the loan for the lender.
“This is one of those unique properties in Silicon Valley, where similar building inventory available to non-tech or ai-related tenants is at a premium due to voracious tech user demand,” noted Kaufmann. “After reviewing various options for the site, including redevelopment for tech related uses, an experienced sponsor saw the advantage of land banking the asset by expanding and renovating the existing light industrial buildings for non-tech uses.
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