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3/13/23
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Lovett Industrial has obtained $24.93 mil in construction financing for the development of Rialto II, a 114.1k sf, Class A industrial development in Rialto. Once completed Rialto II will comprise 36-foot clear heights, two grade-level doors, 12 dock-high doors, a 130-foot truck court and 90 parking stalls.
The 6.02-acre site is located at 1910 W. Renaissance Pkwy in Rialto. The project will benefit from the abundance of nearby transportation networks, including Interstates 215, 15 and 10, CA-210, Union Pacific Intermodal Yard, Ontario International Airport and Los Angeles International Airport. As a result of the connectivity, future tenants have convenient access to 11 western states in addition to Southern California. In addition, the property has access to the Ports of Long Beach and Los Angeles, the largest port complex in the nation.
The JLL Capital Markets Debt Advisory team was led by Senior Director arranged the money. The three-year, fixed-rate loan was funded through American Realty Advisors.
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