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6/01/26
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An Outrigger Industrial LLC-led venture has obtained a $46 mil refinance of 99 Central Logistics Center, a 554k sf, Class A industrial warehouse and distribution facility completed in 2024. The newly constructed property is located in Tulare, CA, a strategic Central Valley logistics hub with direct access to major transportation corridors.
The facility features 36-foot clear heights and was purpose-built to accommodate large-scale logistics and distribution users. The site also encompasses roughly 38.8 acres of entitled excess land, providing the ability to expand by an additional 597k sf as part of the borrower’s broader master-planned industrial park, which is projected to total approximately 2.34 msf upon full buildout.
The floating-rate, interest-only senior mortgage loan was provided by Thorofare Capital. The company’s Andrew Kim, Originations Director, Southwest & Midwest and Jacob Yi, Managing Director of Credit oversaw the transaction.
The proceeds were used to refinance the existing construction loan, fund leasing and capital improvement reserves, and cover closing costs. The financing also includes future funding for tenant improvements, leasing costs, and capital upgrades intended to position the building for immediate occupancy. The loan carries a three-year initial term with extension options.
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