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Pellisier Logistics Center
$23,700,000 Acquisition Financing
Colton, CA | September 2020
Thorofare Capital has funded a $23.7 million “quick-close” bridge loan for Pellisier Logistics Center, a 232,588-square-foot, fully leased industrial warehouse and distribution property in the Inland Empire. The transaction closed in just six business days from signed term sheet to funding.
The financing proceeds were used by the borrower to purchase the asset immediately upon the building’s completion by its developer. The property was 100%-leased simultaneously with closing for an initial lease term of 10-years, with two five-year extensions options, at a fair market rental NNN rate.
Situated on 12.51 acres, Pellisier Logistics Center is a new-construction, concrete tilt-up building with 36’-42’ clear height, 24 dock high doors, 168 trailer parking spaces and 219 (0.95/1,000 SF) auto parking spaces. Offering immediate access to I-10, I-214, SR-60 and SR-91 freeways, the logistics-focused neighbors Living Spaces, Simpson Manufacturing, DHL Supply Chain, Uniliver, FedEx, Excel and other 3PL companies.
The property benefits from its location in an established industrial district within the Inland Empire, which is a high demand logistics/distribution market. Market participants generally view the Southern California industrial market as resilient and minimally impacted by COVID-19 due to the booming e-commerce sector.
The sponsor is a private investment group based in Los Angeles.