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$25m financing secured for industrial development in Southern California
Lovett Industrial has received $24.93 million in construction financing for the development of Rialto II, a 114,115-square-foot class A industrial development in Rialto, Calif.
JLL represented the borrower, Lovett Industrial, in securing the three-year, fixed-rate loan through American Realty Advisors.
Once completed Rialto II will comprise 36-foot clear heights, two grade-level doors, 12 dock-high doors, a 130-foot truck court and 90 parking stalls.
The 6.02-acre site is located at 1910 W. Renaissance Parkway in Rialto. The project will benefit from many nearby transportation networks, including Interstates 215, 15 and 10, State Route 210, Union Pacific Intermodal Yard, Ontario International Airport and Los Angeles International Airport. As a result, future tenants have convenient access to 11 Western states in addition to Southern California. The property also has access to the ports of Long Beach and Los Angeles, the largest port complex in the nation.