Colton Sudberry Of Sudberry Properties Secures $39.2 Million Loan For Industrial Park In San Diego

The asset involved in this transaction is an industrial park located at 717 & 755 Harvest Road in San Diego. This Class A property, built in 2023, encompasses 450,000 square feet and consists of two buildings. Currently, the property is 45% leased, with a significant 202,000-square-foot lease to Amazon and a 248,000-square-foot vacant building. The total loan amount provided for this cash-neutral refinance is $39,200,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $39,200,000
• Lender: PCCP
• Landlord: Colton Sudberry - Sudberry Properties
• Brokers: Aldon Cole - JLL
• Market: San Diego
• Asset Size: 450,000 square feet
• Leased Space: 202,000 square feet to Amazon
• Vacant Space: 248,000 square feet
• Note: Loan provided for cash-neutral refinance

Key individuals in the transaction include Colton Sudberry representing Sudberry Properties as the landlord and Aldon Cole from JLL, who marketed the financing for the property. PCCP acted as the lender for the joint venture involving Sudberry Properties, facilitating the refinancing of California Crossing in the Otay Mesa submarket.