Gantry, the nation’s largest independent commercial mortgage banking firm, has secured an $8 million permanent loan to refinance maturing debt for a single-tenant retail property located within the master-planned Park 10 retail development in Avondale, a growing West Valley suburb of the Phoenix metropolitan area.

The 58,000-square-foot, stand-alone building is occupied by Main Event, an experiential family entertainment venue featuring bowling, laser tag, an obstacle course, and a variety of interactive games and attractions.

Gantry Principal Adam Parker, Senior Associate Chad Metzger, and Associate Andrew Christopherson of the firm’s Phoenix production office represented the borrower, a private real estate investor. The five-year, fixed-rate loan was provided by an insurance company lender from Gantry’s lengthy correspondent network and includes a 20-year amortization schedule. Gantry will service the loan on behalf of the lender.

“Gantry originated the original permanent construction takeout financing for this asset 10 years ago, providing us with deep familiarity with the property and its performance,” said Adam Parker, Principal at Gantry. “Strong site-level sales from Main Event, experienced sponsorship, and favorable retail fundamentals in Avondale supported lender confidence and enabled us to secure a fixed-rate insurance company financing with no loan covenants. Continued demand from our insurance company lenders allowed us to structure this cash-out refinance.”