JLL Capital Markets handles $124 million post-close acquisition financing for single-tenant cold storage facility at 14950 Meridian Parkway in Riverside, CA

Alethia Halamandaris

 

 LOS ANGELES, CA – JLL Capital Markets has arranged $124 million in post-close acquisition financing for 14950 Meridian Parkway, a 1,170,994-square-foot cold storage facility in Riverside, California.

 

JLL worked on behalf of the borrower, IDS Real Estate Group, in securing the 10-year, fixed-rate loan with Northwestern Mutual.

 United Natural Foods' 1,170,994-SF
 cold storage facility in Riverside, CA

 The property is 100% leased to United Natural Foods, Inc. (NYSE: UNFI), the largest publicly traded wholesale distributor serving the United States and Canada.

 

This location serves as UNFI’s main cold storage facility in Southern California. 

 Paul Brindley

Originally completed in 2007 and subsequently renovated and expanded in 2020, the facility is comprised of 39% cold storage and 61% dry storage space with temperature-controlled warehouse space ranging from -10°F to +60°F.

 

The project offers 42’ clear heights, 185 dock doors and approximately 700 parking spaces.

 

Positioned on 59.4 acres within the Moreno Valley/Perris industrial submarket, 14950 Meridian Parkway is adjacent to Interstate 215, which provides seamless access to other major thoroughfares.

Matt Stewart

As a result, the property is well positioned to serve Los Angeles, San Diego and the Inland Empire, with access to the entire western U.S. 

 

The JLL Capital Markets team representing the borrower was led by Head of Debt Advisory – Asia Pacific Paul Brindley, Senior Director Matt Stewart and Director Alethia Halamandaris.

 

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