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Phoenix & Southwest  + Phoenix  + Industrial  |  November 27, 2023
Duo secures $12m loan for Gilbert industrial project
Mike Boyd
By: Mike Boyd

JV Secures $12M Construction Loan for Phoenix Industrial Project

It’s nice when a building is still a year from completion and is already leased out. A build-to-suit project headed up by Atlas Capital Partners and OakPoint has confirmed Frito-Lay has signed for 10 years. Commercial Edge reports additionally, the duo has landed a five-year, fixed-rate, $12 million construction loan for the 60,500-square-foot industrial development in Gilbert. Core Bank provided the loan. JLL Capital Markets represented the developer in the deal.

In 2022, the joint venture acquired the land for $4 million. The tenant is expected to occupy the building by the end of 2024.

Developed on an 8.2-acre site, the warehouse will rise at the intersection of Germann Road and Silverado Court in the Southeast Valley, roughly 3 miles form Chandler Municipal Airport and 10 miles from Phoenix-Mesa Gateway Airport.

Read More News Stories About: JLL
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About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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