Thorofare Capital has provided a $46,000,000 floating-rate senior loan to refinance and fund the lease-up of 99 Central Logistics Center, a newly constructed 554,077 square-foot Class A industrial warehouse and distribution facility located in Tulare, California.

Completed in 2024, the Property features 36-foot clear heights and was designed to accommodate large-scale logistics and distribution users. The site also includes approximately 38.8 acres of entitled excess land, providing the ability to expand the project by an additional 597,013 square feet as part of the Sponsor’s broader master-planned industrial park totaling approximately 2.34 million square feet upon full buildout.

Loan proceeds were used to refinance the existing construction loan, fund leasing and capital improvement reserves, and cover closing costs. The financing includes future funding for tenant improvements, leasing costs, and capital upgrades intended to position the building for immediate occupancy by future tenant(s). The floating-rate, interest-only loan carries a three-year initial term with extension options.

The sponsorship group is a joint venture between an industrial development firm and a global institutional investment manager. The Sponsor has experience developing and operating large-scale industrial projects throughout key logistics markets across the United State.