LOS ANGELES, May 4, 2021 -JLL Capital Markets announced today that it has arranged a $15.9 million acquisition loan for a fully leased, 196,300-square-foot warehouse in a last-mile, infill location at 2575 El Presidio in the Los Angeles-area community of Carson, California.

JLL worked on behalf of the borrower, New York-based Thor Equities Group, to place the seven-year, fixed-rate, interest-only loan with National Life Group. The borrower acquired the property in an off-market sale-leaseback transaction.

Completed in 1972, the one-building facility features a 22-foot clear height, nine loading positions, office and mezzanine space and ample parking. 2575 El Presidio is situated on 6.09 acres at the epicenter of Southern California's transportation and distribution network, allowing tenants to reach almost 5.5 million residents within 14.2 miles. It is proximate to Interstates 405, 110, 506 and 5 and provides easy access to the Los Angeles Port Complex, the most active port complex in the country, and is within a 20-minute drive to Los Angeles International Airport.

The Carson Industrial submarket sits within the greater Los Angeles Industrial Market, which, as of the first quarter of 2021, has a low 2.9% vacancy. According to JLL Research, the market just posted its highest absorption figure since 2015 with all submarkets seeing positive absorption in the first quarter. Elevated import volumes at the twin ports are driving demand for warehouse space in the core submarkets of Los Angeles.

The JLL Capital Markets team representing the borrower was led by Senior Managing Director Marc Schillinger and Director Keith Rosso.

'We're seeing significant competition for high-quality Southern California industrial assets from investors and capital sources, as there continues to be a rapid increase in demand from e-commerce and logistics companies,' Schillinger said. 'Following a competitive marketing process, we're thrilled to have identified one of JLL's correspondent insurance company relationships who was able to provide long-term, fixed-rate, interest-only debt, enhancing the buyer's return profile.'

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Inc. published this content on 04 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 May 2021 18:10:10 UTC.