JLL Capital Markets announced it has arranged $81.6 million in financing for Otay River Business Park, a 369,803-square-foot industrial and retail business park located at 2925–2945 Main St. and 2775–2970 Faivre St. in Chula Vista, Calif.
JLL worked on behalf of the borrower, Sudberry Properties, a San Diego–based real estate development and asset management firm, to secure a floating-rate, five-year loan through a debt fund. The loan includes future funding for construction completion and leasing costs.
The property is positioned east of Interstate 5 in Chula Vista, offering connectivity to San Diego, Mexico, Los Angeles and the broader western United States via Interstate 5, I-805, I-8 and State Routes 54 and 905. The development comprises stabilized, recently delivered and under-construction components across multiple phases built between 2021 and 2026. Phase IV, currently under construction, includes a 66,000-square-foot industrial building and parking facili
