CapRock announced that it received $17.5 million in pre-development financing on a 22.1-acre parcel within the World Logistics Center masterplan in Moreno Valley, Calif. Upon entitlement, CapRock will have the optionality to either commence development on an approximately 500,000-square-foot, LEED-certified industrial warehouse or exit via a land sale. JLL arranged the financing for the borrower.
The 22.1-acre industrial-zoned site will accommodate a wide range of uses including ecommerce, manufacturing and distribution. At completion, the building will feature 36-foot clear height, 65 dock-high doors and up to 10,000 square feet of two-story office space. The property will offer 88 trailer parking stalls, 339 auto parking stalls, a truck court depth of 185 feet and a secured concrete yard.
CapRock Global Logistics is located south of the 60 freeway at the Theodore St. on/off-ramp. Positioned midway between the Interstate 215 and Interstate 10 freeways, the property is