JLL Arranges Pre-Development Financing on CapRock Warehouse
JLL Capital Markets arranged $17.5 million in pre-development financing on a 22.1-acre parcel within the World Logistics Center masterplan in Moreno Valley. Upon entitlement, CapRock will have the option to either commence development on an approximately 500,000-square-foot, LEED-certified industrial warehouse or exit via a land sale.
The site of the proposed CapRock Global Logistics is located just south of the 60 freeway at the Theodore St. on/off-ramp. At completion, the building would feature 36-foot clear height, 65 dock-high doors and up to 10,000 square feet of two-story office space.
The larger World Logistics Center will be the largest logistics business park in North America at completion, offering connectivity to major transportation routes including highways, rail lines and airports, the Ports of Long Beach and Los Angeles, and major Western U.S. distribution hubs.
The JLL Capital Markets Debt Advisory team was led by senior managing director Greg Brown, senior director Peter Thompson and analysts Spencer Seibring and Kyle White.
Connect Orange County will take place Sept. 27, 2023 at VEA | Newport Beach Marriott in Newport Beach, concurrently with Connect Healthcare Real Estate on Sept. 27 and 28. Click here to register for Connect Orange County, and here to register for Connect Healthcare Real Estate.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).