Iconic Equities’ IOS undertaking will take form on 5.7 acres in Fontana, Calif. Picture courtesy of JLL
Iconic Equities has acquired $16.2 million in senior financing for an industrial outside storage undertaking in Fontana, Calif. JLL Capital Markets labored on behalf of the borrower to safe the financing by SG Capital Companions.
Situated at 8247 Lime Ave., the event will comprise a truck yard and a 12,500-square-foot distribution facility. The 5.7-acre property is near interstates 15 and 10 and inside 66 miles of Los Angeles Worldwide Airport and the Port of Los Angeles. Ontario Worldwide Airport is roughly 10 miles southwest.
Regardless of present financial situations, e-commerce continues to be rising, driving tenant demand for industrial outside storage belongings, a latest Marcus & Millichap report exhibits. IOS properties recorded among the lowest emptiness charges, beneath 3 % on common as of March, the identical report reveals.
For the reason that starting of the yr, a number of joint ventures have been created for the acquisition and improvement of recent IOS merchandise. Considered one of these partnerships emerged in April, when Centerbridge Companions joined forces with Dalfen Industrial, planning to spend money on markets with main ports and key logistics nodes.
In March, GreenPoint Companions launched a $500 million IOS storage platform, with GCM Grosvenor as its predominant investor. The funding funds will likely be used for acquisition of semi-truck parking and trailer storage belongings throughout the U.S.
