131,000 SQFT Merge Office Campus in Westminster Faces 41% Value Decline, Enters Special Servicing on $15.5MM CMBS Loan

The 130,800-square-foot suburban office park on the Los Angeles–Orange County border is now appraised at just $16.4 million, barely above its outstanding loan balance, as persistent vacancy drags on the property's financial performance. The Merge office campus at 5405–5555 Garden Grove Boulevard in Westminster, California, has entered special servicing on its $15.5 million CMBS loan […]