IDS Obtains $124M Financing for Riverside Cold Storage Facility
JLL Capital Markets has arranged $124 million in post-close acquisition financing on behalf of IDS Real Estate Group for 14950 Meridian Parkway, a 1.2 million-square-foot cold storage facility in Riverside, CA. The 10-year, fixed-rate loan was provided by Northwestern Mutual.
The property is fully leased to United Natural Foods, the largest publicly traded wholesale distributor in the U.S. and Canada. The facility is comprised of 39% cold storage and 61% dry storage and offers 42’ clear heights, 185 dock doors and approximately 700 parking spaces.
The site is just over 59 acres in size and is positioned adjacent to Interstate 215, providing seamless access to other major freeways, allowing connectivity to Los Angeles, San Diego and the entire Western U.S.
The JLL Capital Markets team representing the borrower included Paul Brindley, Matt Stewart and Alethia Halamandaris.
- ◦Financing