Dealmaker: JLL Secures $30M For Three-Property Industrial Portfolio

(Illustration courtesy of JLL)

JLL Capital Markets, Chicago, arranged $30 million in financing for a three-property industrial portfolio totaling 330,178 square feet in Texas, California and Arizona.

JLL represented Sagard Real Estate, Denver, and secured the four-year, full-term interest-only loan through a national correspondent life insurance company at an all-in note rate of 6.12%.

The first property, located at 2230 Ave J in Arlington, Texas, is an 11.4-acre site with 131,040 square feet of Class A distribution product in Dallas/Fort Worth’s Upper Great Southwest submarket. The property was constructed in 1992 and renovated in 2012.

The second asset is located at 6650 Top Gun Street in San Diego, Calif. It is a 121,496-square-foot warehouse building in the city’s Sorrento Mesa submarket. The reinforced concrete tilt-up property was constructed in 1993 and renovated in 2018 with 24-foot clear ceiling heights 16 dock doors, one grade-level door and 200 parking spaces.

The third property in the portfolio is located at 824 E University Drive in Phoenix. It is a 77,642-square-foot building in the Airport submarket. The reinforced concrete tilt-up property was constructed in 1989 and features 24-foot clear ceiling heights, five dock doors, two grade-level doors and 80 parking spaces. The location provides direct access to downtown Phoenix and Phoenix Sky Harbor International Airport.

The JLL Capital Markets team was led by Executive Managing Director Eric Tupler, Managing Director Kristian Lichtenfels, Senior Directors Chris Collins and Will Mogk and Director Jarrod Howard.