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JLL Capital Markets revealed that it had secured $49.2 million in construction financing for the construction of the Birtcher Logistics Center Fontana. The facility is a 330,048-square-foot Class A industrial distribution facility being built in Fontana, California. Birtcher Development LLC obtained the three-year loan from a life insurance firm with two one-year extensions.
The property is situated on more than 13 acres in one of the strongest industrial areas in the United States. Located at the southwest corner of Banana Avenue and Santa Ana Avenue. The cutting-edge distribution centre will have a 185-foot truck court and 51 dock-high entrances. Additionally, it will have 85 trailer parking spaces and 36-foot clear heights. The Inland Empire West submarket is the perfect location for the site. The five-mile distance to the Ontario International Airport and the Union Pacific Intermodal Yard adds to the location’s advantages. From the Birtcher Logistics Center, businesses may easily provide services to all of Southern California and the 11 Western states in less than two days of travel.
According to Brooke Birtcher Gustafson, Managing Director of Birtcher Development, “JLL’s Capital Markets Debt Advisory team did an incredible job facilitating bids for financing this project and seeing it through to closing, despite the current economic headwinds the investment market is facing.”
For real estate investors and occupiers around the world, JLL financing Markets offers full-service financing solutions. Clients receive best-in-class solutions from the firm, whether they need assistance with investment sales and advisory, debt advisory, equity advisory, or recapitalization. The company has operations in close to 50 countries and more than 3,000 Capital Markets specialists worldwide. |
