Birtcher Development announced it has secured $49.2 million in construction financing for the development of Birtcher Logistics Center Fontana, a class A industrial distribution facility currently under construction totaling 330,048 square feet in Fontana, Calif.
JLL represented the borrower to secure the three-year loan with two one-year extensions from a life insurance company.
“JLL’s Capital Markets Debt Advisory team did an incredible job facilitating bids for financing this project and seeing it through to closing, despite the current economic headwinds the investment market is facing,” said Brooke Birtcher Gustafson, managing director at Birtcher Development.
Located at the southwest corner of Banana and Santa Ana avenues, the property is positioned on over 13 acres in one of the strongest industrial markets in the United States. The state-of-the-art distribution facility will boast 36-foot clear heights, 51 dock-high doors, 85 trailer parking stall
