New 428K-SF Industrial Project Planned Along I-15 in Hesperia After $33.8M Loan Secured
HESPERIA, Calif.(VVNG.com) — JLL Capital Markets has arranged $33.8 million in first-lien construction financing for a 428,185-square-foot Class A industrial facility planned at 10400 Amargosa Road in Hesperia.
The project will be developed by The Covington Group on behalf of Pixior Group, a third-party logistics and e-commerce fulfillment provider that will serve as the owner-user of the facility.
JLL represented the borrower in securing the five-year, fixed-rate loan through TDA Investment Group, which provided the financing on behalf of one of its pension fund clients.
The JLL Capital Markets Debt Advisory team representing the borrower was led by senior managing director Matt Stewart, director Kellan Liem, associate Allie Black and analyst Cameron Sepahi.
“This development represents a state-of-the-art logistics facility in one of Southern California’s most rapidly growing industrial corridors,” Stewart said in a statement. “The site’s superior location along Interstate 15, modern building specifications and proximity to major distribution hubs makes this an exceptional development opportunity.”
According to project details, the single-tenant building will feature 36-foot clear heights, rear-load capabilities, an ESFR fire sprinkler system and a fully secured truck court.
Pixior Group will have the option to occupy and purchase the facility once construction is complete.
Construction on the project is expected to take approximately 11 months, placing the development among a growing number of logistics and distribution projects in the Inland Empire, one of the nation’s most active industrial markets driven by e-commerce demand and its proximity to Southern California’s ports and transportation infrastructure.
Note to readers: If you value our reporting and want to see it continue, consider becoming a monthly supporter. Your contribution helps keep independent, local news accessible to everyone. Support local news today!
