JLL Arranges $81.6 Million Loan For Sudberry Properties’ Otay River Business Park In Chula Vista

The asset involved in this transaction is a mixed-use property located at 2925-2945 Main Street and 2775-2970 Faivre Street in Chula Vista, California. The property encompasses a total square footage of 369,803 and is associated with a loan amount of $81,600,000, structured through a five-year floating-rate loan. This financing is intended to support future funding for construction and leasing costs, particularly for the completion of a 66,000-square-foot Phase IV that is 70% pre-leased to an investment-grade tenant.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $81,600,000
• Address: 2925-2945 Main Street & 2775-2970 Faivre Street
• Market: Chula Vista, CA
• Asset Size: 369,803 SF
• Landlord: Sudberry Properties
• Brokers: Aldon Cole, Bharat Madan & Jenna Frakes - JLL
• Loan Terms: five-year, floating-rate

This transaction involved key figures from JLL, specifically Aldon Cole, Bharat Madan, and Jenna Frakes, who arranged the $81.6 million financing for Sudberry Properties, facilitating the support needed for the ongoing development within the Otay River Business Park.