$210m loan secured for Inland Empire industrial development

A joint venture between Newport Beach, Calif.–based Real Estate Development Associates (REDA) and an industrial fund managed by Clarion Partners has plans to build Ontario Ranch Business Park, a class A, seven-building, 1.68 million-square-foot industrial project currently under construction in the heart of the Inland Empire in Ontario, Calif.

JLL Capital Markets arranged $210 million in construction financing for the development of the first phase.

The joint venture acquired the 84-acre site in December 2020. Once completed, Ontario Ranch Business Park will be a state-of-the-art project with clear heights ranging from 30 to 40 feet, 287 loading positions and 775 parking stalls. The largest building, which will house 1.1 million square feet, is preleased to Fortune 100 company The Home Depot.

Positioned at the intersection of Euclid and Eucalyptus avenues, the project provides direct access to Interstate 15, SR-71 and CA-60, providing easy connectivity to the