PCCP, LLC has recently financed a $42-million senior loan for the refinance of a 610,025-square-foot industrial building in Lathrop. The Class A cross-dock distribution facility was constructed in December 2021 and is currently 50% occupied by a third-party logistics company, with the remaining space available.
Located at 18755 Business Park Ct., this property is part of Lathrop Gateway – a large-scale development spanning over three phases on a sprawling 175-acre site. The first two phases have already been completed.
According to Dorian Farhang, Senior Vice President at PCCP: “This financing opportunity allows us to work with experienced borrowers on an impressive new construction project that offers top-notch Class A amenities.” He further adds that they are confident about the potential of Lathrop as an emerging Northern California distribution market and believe that this state-of-the-art facility will attract tenants due to its prime location and high-quality features.
The article originally appeared on Connect CRE’s website.
