Newcastle Partners Secures $65.1 Million Construction Loan From Bank OZK For Logistics Center In Perris

The Ellis Avenue Logistics Center, located at 409 East Ellis Avenue in Perris, California, is an industrial asset encompassing 631,011 square feet. The construction loan secured by Newcastle Partners amounts to $65.1 million, aimed at the development of this project within the Inland Empire industrial market.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $65,100,000
• Address: 409 East Ellis Avenue
• Market: Perris
• Lender: Bank OZK
• Landlord: Dennis Higgs - Newcastle Partners
• Brokers: Greg Brown, Allie Black & Nick Englhard - JLL
• Loan Type: Construction
• Project Features: 40-foot clear heights, 87 dock-high doors, proximity to I-215 and a Metrolink station
• Projected Groundbreaking: Early 2026
• Expected Delivery Date: Year-end 2026

The financing for this construction project was arranged by JLL Capital Markets, highlighting the involvement of key brokers Greg Brown, Allie Black, and Nick Englhard in facilitating the loan agreement. The development is positioned to meet the demands of the growing industrial sector in the region.