Marcus & Millichap Capital Corporation provides $4.798 million in acquisition financing for industrial property in Albert Lea

Marcus & Millichap Capital Corporation provides $4.798 million in acquisition financing for industrial property in Albert Lea

Marcus & Millichap Capital Corporation arranged $4,798,000 in financing for the acquisition of a 127,869-square-foot industrial property located at 1851 Margaretha Avenue in Albert Lea, Minnesota. Michael Hughes, managing director in MMCC’s Milwaukee office, secured a 5-year loan with a national bank on behalf of the buyer. The loan is non-recourse with a 5.3% interest rate and 25-year amortization period. The property is currently leased to Green Bay Packaging, a sustainable packaging manufacturer with over 40 locations throughout the United States.