$30M in financing secured for a 3-property industrial portfolio in Texas, California and Arizona

DENVER, Jun. 5, 2024 – JLL Capital Markets announced today that it arranged $30 million in financing for a three-property portfolio totaling 330,178 square feet in Texas, California and Arizona.

JLL represented Sagard Real Estate and secured the four-year, full-term interest-only, fixed-rate loan through a national correspondent life insurance company at an all-in note rate of 6.12%.

The first property is located at 2230 Ave J in Arlington, Texas. The 11.42-acre site consists of 131,040 square feet of Class A distribution product across one building in Dallas Fort Worth’s Upper Great Southwest submarket. The property was constructed in 1992 and renovated in 2012. It features 26-foot clear ceiling heights, 28 dock doors and 233 parking spaces.

The second property is located at 6650 Top Gun St. in San Diego. It is a 121,496-square-foot warehouse building in the Sorrento Mesa submarket of San Diego. The reinforced concrete tilt-up property was constructed in 1993, renovated in 2018 and features 24-foot clear ceiling heights, with 16 dock doors, one grade level door and 200 parking spaces. The warehouse property is ideally located in North San Diego near to the interchange of I-805 and Mira Mesa Blvd. providing direct access to Downtown San Diego, the Port of San Diego and San Diego International Airport.

The third property in the portfolio is located at 824 E University Dr. in Phoenix. It is a 77,642-square-foot building in the Airport submarket. The reinforced concrete tilt-up property was constructed in 1989 and features 24-foot clear ceiling heights, five dock doors, two grade level doors and 80 parking spaces. The warehouse property is ideally located in South Phoenix adjacent to the interchange of I-17 and 7th Street, providing direct access to Downtown Phoenix and Phoenix Sky Harbor International Airport.

The JLL Capital Markets team was led by Executive Managing Director Eric Tupler, Managing Director Kristian Lichtenfels, Senior Directors Chris Collins and Will Mogk and Director Jarrod Howard.

“We are extremely pleased with the process and result on this transaction run by the JLL team in Denver headed up by Eric Tupler,” said Tom Karbowski, Managing Director, Sagard. “They were particularly helpful in assisting in navigating through some intricacies associated with the properties in this portfolio.”

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.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413