Pacific Coast Capital Partners Provides $42M Refinance Loan For Lathrop Industrial Building

A joint venture between Phelan Development and LaSalle Investment Management has refinanced a 610,025-square-foot industrial building located at 18755 Business Park Court in Lathrop, San Joaquin Valley. The property, part of the ongoing Lathrop Gateway project, sits on 26.3 acres and features a cross-dock distribution design. Currently, the building is 50 percent leased to a third-party logistics company.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $42,000,000
• Address: 18755 Business Park Court, Lathrop
• Market: Lathrop, San Joaquin Valley
• Size: 610,025 square feet
• Acres: 26.3

The lender for this refinancing is Pacific Coast Capital Partners (PCCP), and the landlords are Phelan Development represented by Jeffrey F. Phelan, and LaSalle Investment Management represented by Mark Gabbay.

PCCP has issued a $42 million senior loan for the refinancing of this industrial building. The deal was facilitated by Phelan Development and LaSalle Investment Management, who jointly own the property. The building, located within the Lathrop Gateway project, offers a cross-dock distribution design, making it suitable for logistics operations. Currently, the building is leased to a third-party logistics company, occupying 50 percent of the space.