Gantry, the largest independent commercial mortgage banking firm in the U.S., has secured a $13.5 million permanent loan to retire construction debt from the recently completed The Pointe at Power Marketplace located at 18698 E. Business Park Drive in Queen Creek, an East Valley suburb of Metro Phoenix. The modern, 92,300-square-foot, multi-tenant building was completed in 2024 and is 100% leased to a diverse roster of tenants. The Pointe at Power Marketplace features a total of 10 suites offering 30-foot clear heights and a grade-level and truck-well loading dock per suite.

Gantry’s Tim Storey, Principal, Chad Metzger, Senior Associate, and Andrew Christopherson, Associate, with the firm’s Phoenix production office represented the borrower, a private real estate investor. The 10-year, fixed rate loan was secured from one of Gantry’s correspondent insurance company lenders and features full-term interest only, with prepayment flexibility at key mid- and late-term benchmarks. Gantry will service the loan for the lender.

According to Gantry’s Tim Storey, “Gantry’s exclusive network of insurance company lenders continues to favor allocations to stabilized industrial property throughout the Metro Phoenix submarkets in both multi-tenant and big box formats. Location, quality, and performance are the three key considerations for their best terms. Queen Creek is a fast-growing, highly desirable suburban community with ready access to the key East Valley and Metro Phoenix markets. This recent vintage multi-tenant product is a highly desirable offering in a relatively tight market for similar space as its 100% occupancy indicates. Aligned with an experienced developer that built for a legacy hold, we were able to secure a permanent fixed rate loan that made sense for a traditional 10-year term with an interest only payment schedule and later-term prepayment flexibility. A win-win for our correspondent and sponsor client.”