PERRIS, CALIF. — Newcastle Partners has received $65.1 million in senior construction financing for the development of Ellis Avenue Logistics Center, a large-scale industrial project in Perris. Greg Brown, Allie Black and Nick Englhard of JLL Capital Markets secured the floating-rate, five-year (inclusive of extensions) loan through Bank OZK for the borrower.
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The project represents one of the latest major industrial investments in the Inland Empire, a region that continues to attract logistics and e-commerce users due to its proximity to the Ports of Los Angeles and Long Beach and its access to Southern California’s vast consumer base.
The 631,0011-square-foot warehouse and distribution facility will feature a clear height of 40 feet, an ESFR sprinkler system, 87 dock-high doors, three grade-level doors, 205 trailer parking stalls and 176 auto parking stalls. The specifications reflect the type of high-throughput design increasingly required by third-party logistics providers, manufacturers and last-mile distributors.
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Construction of the project, which is located at the intersection of Ellis Avenue and Case Road, is slated to commence in early 2026, with completion and stabilization projected for late 2026. Developers expect the facility to draw strong tenant interest given historically tight vacancy rates across Riverside County’s industrial submarkets.
The Ellis Avenue Logistics Center arrives at a time when Southern California continues to see steady demand for modern warehouse space. Despite national economic headwinds, the Inland Empire has maintained its position as one of the country’s most active industrial corridors, supported by population growth, port activity and the ongoing evolution of supply-chain networks.
Market analysts note that new Class A product with 40-foot clear heights and abundant trailer parking is particularly sought after, as occupiers prioritize efficiency and the ability to handle larger volumes of goods. Financing for well-located projects has remained competitive, with regional banks and debt funds continuing to support experienced sponsors like Newcastle Partners.
Upon completion, the Perris facility is expected to contribute new employment opportunities and strengthen the city’s role as a distribution hub within Riverside County. The development also underscores the continued confidence institutional lenders have in Southern California’s long-term industrial fundamentals.
Originally reported by Rebusiness Online.
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