JLL Capital Markets arranges non-recourse pre-development financing on a 22.1-acre parcel in Moreno Valley, CA
News release
07 September 2023
$17.5M in pre-development financing secured for CapRock Global Logistics
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ORANGE COUNTY, Sept. 7, 2023 – JLL Capital Markets announced today that it arranged $17.5 million in pre-development financing on a 22.1-acre parcel within the World Logistics Center masterplan in Moreno Valley, CA. Upon entitlement, CapRock will have the optionality to either commence development on an approximately 500,000-square-foot, LEED-certified industrial warehouse or exit via a land sale.
In alignment with CapRock’s commitment to creating world-class industrial real estate solutions, the 22.1-acre industrial zoned site will accommodate a wide range of uses including e-commerce, manufacturing and distribution. At completion, the building will feature 36-foot clear height, 65 dock-high doors and up to 10,000 square feet of two-story office space. The property will offer 88 trailer parking stalls, 339 auto parking stalls, a truck court depth of 185 feet and a secured concrete yard.
CapRock Global Logistics is located just south of the 60 freeway at the Theodore Street on/off-ramp. Positioned midway between the I-215 and I-10 freeways, the property is within a 1.5-hour drive to the ports of Long Beach and Los Angeles and offers the ability to reach 11 states, or approximately 80 million people within a one-day drive.
At completion, World Logistics Center will be the largest logistics business park in North America, offering exceptional connectivity to major transportation routes including highways, rail lines and airports, the ports of Long Beach and Los Angeles, and major Western U.S. distribution hubs.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Greg Brown, Senior Director Peter Thompson, and Analysts Spencer Seibring and Kyle White.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $20.8 billion and operations in over 80 countries around the world, our more than 106,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About CapRock Partners
Founded in 2009 in Newport Beach, CA, CapRock Partners is a privately owned investor and developer of industrial real estate in the Western and Central United States. With approximately $2.9 billion of assets under management or advisement as of June 30, 2023, the company specializes in acquiring middle-market value-add industrial assets, developing large-scale institutional-quality Class A industrial warehouse facilities in key locations, and providing third-party asset management services for institutional investors. The firm is actively acquiring land for development and middle market value-add assets across the Western and Central U.S. Since inception, its total investment and development pipeline exceeds 30 million square feet of industrial real estate.