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Last Updated ( Friday, 16 May 2014 15:15 )
DATE_FORMAT_LC2=Friday,May 16 2014 12:00:00 am EDT   
Spence Hill Arranges $1.2 Million of Acquisition Financing for Maryland Retail Property

spencehill7eleven web5740 Columbia Road in Columbia, Md., is net-leased to 7-Eleven Inc.Columbia, Md. – Spence Hill Associates has arranged $1.2 million of acquisition financing for a retail property in Columbia. The property is net-leased to 7-Eleven Inc.

Michael Trauberman, managing director of Spence Hill Associates, arranged and negotiated the financing on behalf of the purchaser, Columbia Village LLC of Vienna, Va. The 10-year loan was placed with a Virginia-based bank and features an initial five-year fixed interest rate of 3.90 percent.

5740 Columbia Road consists of a 3,153-square-foot, free-standing 7-Eleven situated on 23,566 square feet of land. The property is located less than one-quarter of a mile from Little Patuxent Parkway. The center has a three-mile radius population of 90,694 and median household income of $92,875.

— Scott Reid






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