The Phoenix-based Baker Development Corporation (BDC) and New York’s Foundation Capital Partners (FCP), in collaboration with joint venture partner GTIS Partners, have successfully secured a $39 million refinance loan for Yuma|143, a recently completed 490,278-square-foot Class A industrial development located in Goodyear. The project cost an estimated $45 million to build and achieved full occupancy just last week after the completion of three major lease commitments.
A team from Newmark Debt and Structured Finance led by Dustin Stolly arranged the loan which was provided by Arizona Bank & Trust. In early 2022, Factor 75 – a subsidiary of HelloFresh – signed on for the entire 14170 building at 300,100 square feet to use as their food processing operation that includes significant freezer cooler components. The adjacent 190,178 square foot 14160 building is now fully leased out between Apex Tool Group based in Maryland and Romac Industries.
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