Birtcher Development secures $75m in construction for Birtcher Logistics Center Rialto
Birtcher Development announced that it has secured $75 million in construction financing for the development of Birtcher Logistics Center Rialto, a class A logistics facility currently under construction totaling 492,631 square feet in Rialto, Calif.
JLL represented the borrower and secured the nonrecourse loan from the lender, Principal Global Investors.
“This is the second construction loan Birtcher has secured in the past 60 days with JLL’s Capital Markets Debt Advisory team,” said Brooke Birtcher Gustafson, managing director at Birtcher Development. “As the market continues to experience tightening within the lending community, we’re grateful for JLL’s ability to see another loan through from start to finish alongside our team.”
Situated on approximately 21 acres, the site will serve as a state-of-the-art facility featuring 40-foot clear heights, 62 dock-high doors, 5,642 square feet of ground-floor office and 5,221 square feet of mezzanine spa