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Otay Mesa Industrial Project Lands $35M in Construction Financing
JLL Capital Markets has arranged $35 million in construction financing for the development of Phase II of Brown Field Technology Park, a pair of Class A industrial buildings in the Otay Mesa submarket of San Diego. JLL worked on behalf of Murphy Development Company to secure the non-recourse loan with a regional bank.
“Despite the recent turbulence in the lending market, we continue to see a large amount of interest from capital providers to finance high-quality industrial developments with experienced sponsors in markets with strong macro-economic indicators,” said Bryan Clark with JLL Capital Markets Debt Advisory team that represented the borrower along with Aldon Cole and Bradley Vansant.
Phase II at Brown Field Technology Park will feature two modern industrial buildings with clear heights between 32 and 34 feet, up to 41 dock-high doors, up to eight grade-level doors and is expected to be delivered in Q2 of 2023.
- ◦Financing
