Anne Phillips Architecture Purchases 6,082 sq. ft. Oakland, CA Building with 504 Financing though Capital Access Group
Capital Access Group (www.capitalaccess.com), a commercial real estate lender specializing in U.S. Small Business Administration 504 loans for growing businesses, announced today that it arranged $888,500 in total project financing for Oakland-based Anne Phillips Architecture (www.aparch.com) to purchase a 6,082 sq. ft. facility located at 3031 Adeline Street, Oakland, CA. The loan included $241,000 for a build out, and it will enable the firm to create seven additional jobs.
Founded in 1995, Anne Phillips Architecture is an award-winning, design-oriented architecture firm that provides a full range of residential and commercial services for nonprofit organizations and private clients with a focus on large residential buildings and affordable housing projects. Prior to purchasing this property, the firm was operating out of a much smaller office space in Berkeley, CA.
“We outgrew our old space years ago,” said Anne Phillips, AIA, LEED A.P, Principal, Anne Phillips Architecture. “It was really a space for four employees, but at one point we had 13 people working there. It lacked a conference room and all of the things you need to conduct an efficient and well-run business.”
“We gained 2,000 square feet in the new space!” said Phillips. “It’s hard to describe what a boost it’s given to my staff and the business as a whole. We now have an area for samples and materials, a kitchen area, and everyone has a generous work space. Clients want to see it, so it’s also creating a buzz for the business.”
“We were so pleased to help Anne and her team relocate to a larger space,” said Jacklyn Jordan, President and CEO of Capital Access Group. “Anne’s 504 loan included funds to allow her to renovate the building to meet her exacting specifications, and she now has the space the business needs to continue to grow.”
“The financing was terrific,” said Phillips. “I should be a cheerleader for the whole program and for Capital Access Group. A tremendous boost to my business and a great organization to work with—I hope I get a chance to work with them again.”
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