NEWPORT BEACH, Calif., Mar. 9, 2023 – JLL Capital Markets announced today that it has arranged $24.93 million in construction financing for the development of Rialto II, a 114,115-square-foot Class A industrial development in Rialto, California.
JLL represented the borrower, Lovett Industrial, in securing the three-year, fixed-rate loan through American Realty Advisors.
Once completed Rialto II will comprise 36-foot clear heights, two grade-level doors, 12 dock-high doors, a 130-foot truck court and 90 parking stalls.
The 6.02-acre site is located at 1910 W. Renaissance Pkwy in Rialto. The project will benefit from the abundance of nearby transportation networks, including Interstates 215, 15 and 10, CA-210, Union Pacific Intermodal Yard, Ontario International Airport and Los Angeles International Airport. As a result of the connectivity, future tenants have convenient access to 11 western states in addition to Southern California. In addition, the property has access to the Ports of Long Beach and Los Angeles, the largest port complex in the nation.
The JLL Capital Markets Debt Advisory team was led by Senior Director Peter Thompson, Director Samuel Godfrey and Associate Jordan Leake.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
About Lovett Industrial
Lovett Industrial is a vertically integrated and nationally-focused logistics real estate development and investment platform. The company seeks to build and acquire industrial real estate assets that are differentiated by their quality, location and functionality in markets across the U.S.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $20.9 billion, operations in over 80 countries and a global workforce of more than 103,000 as of December 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.