CapRock Lands $50M for LA-Area Industrial Project

4200 W. Valley Blvd. Image courtesy of JLL

CapRock Partners has obtained a $50 million non-recourse loan for the construction of 4200 W. Valley Blvd., a 269,740-square-foot industrial facility in Pomona, Calif. JLL Capital Markets secured the financing on behalf of the borrower.

CapRock acquired the 12.5-acre development site in December 2020, through its $250 million Industrial Value-Add Fund III. Upon completion, 4200 W. Valley Blvd. will feature 40-foot clear heights, 28 dock-high doors and two grade-level doors, as well as 129 car parking spaces and 46 trailer stalls.

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The property is 2 miles west of the intersection between Orange and Pomona freeways and some 6 miles from the City of Industry Intermodal Facility, in the San Gabriel Valley submarket. Furthermore, the site is within 50 miles of the region’s largest international airports and seaports.

JLL Senior Managing Director Gregory Brown, Director Peter Thompson and Associate Sam Godfrey led the team representing the borrower.

CapRock’s industrial kingdom

With a portfolio spanning 91 properties and 16 million square feet, CapRock is one of the most active industrial investors and developers around the Central and Western U.S., according to CommercialEdge information.

The firm has recently broken ground on the first phase of Palomino Ranch, a 2 million-square-foot master-planned project in Norco, Calif. At full build-out, the 112-acre campus will be the largest industrial development in the city’s history.

In Phoenix, work progresses at the 3.4 million-square-foot CapRock West 202 Logistics. The project’s Phase 1, designed to include five warehouses totaling 2.5 million square feet, is slated for completion in the first quarter of 2023.