SALT LAKE CITY — Marcus & Millichap Capital Corporation (MMCC), a leading provider of commercial real estate capital markets financing solutions, arranged $8 million in financing for Metro Business Park, a nine-building, 52,152-square-foot business park located at 2235 1300 West in Salt Lake City, Utah.
Chad O’Connor, executive managing director in MMCC’s San Diego office, secured 3-year financing with a private, regional lender on behalf of a private equity firm based in Orange County, California. The loan features full-term interest only payments at a 7.5% rate.
“With the departure of the property’s primary office tenant, the sponsor needed both flexibility and capital to reposition the asset,” said O’Connor. “This financing released trapped reserves from the existing CMBS loan and provided additional proceeds to support the conversion back to light industrial use, while also preserving cash flow during the early stages of the business plan.”
The property is conveniently located near three major highways and ten minutes from Salt Lake City International Airport. Current tenants include a moving and storage company, auto glass shop, medical contractor, transportation service, and a solar energy company.
About Marcus & Millichap Capital Corporation
Marcus & Millichap Capital Corporation (MMCC) is a subsidiary of Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada. MMCC provides commercial real estate capital markets financing solutions, including debt, mezzanine financing, preferred and joint venture equity, sponsor equity, loan sales and consultative and due diligence services. In 2025, MMCC closed 1,659 transactions totaling $11.9 billion. To learn more, please visit: marcusmillichap.com/financing.