$99m construction loan secured for five-building industrial development

A joint venture led by Contour has plans to develop Sossaman Park 202, a five-building industrial development totaling 828,718 square feet in Mesa, Ariz.

The project has received $99 million in construction financing for the Phase I development of Sossaman Park 202. JLL Capital Markets worked on behalf of the borrower to secure the four-year, floating-rate loan, provided by Pacific Western Bank.

Once completed, the project will include a mix of light industrial, warehousing and distribution buildings ranging in size from 130,318 square feet to 198,782 square feet. Each of the buildings will offer two grade-level doors, between 25 and 41 dock-high doors, 50’ x 52’ column spacing and 32’ clear height throughout. Sossaman Park 202 will be built in two phases with the second phase expected to include three additional buildings that will collectively total approximately 722,000 square feet. A portion of loan proceeds were used to fund the sponsor’s acquisition of th