News release

New Class A industrial development near San Diego capitalized

JLL Capital Markets arranged the JV equity partnership and construction loan for the two-building facility near the U.S.-Mexico International Border

November 05, 2020

SAN DIEGO, November 5, 2020 – JLL Capital Markets announced today that it has arranged a joint venture equity partnership and senior construction financing for the development of California Crossings, a to-be-built, two-building, Class A industrial facility totaling 449,680 square feet in the San Diego-industrial submarket of Otay Mesa, California.

JLL worked on behalf of the developer, San Diego-based Sudberry Properties, to arrange a JV venture equity partnership with a global investment manager. Additionally, JLL worked on behalf of the developer and the global investment manager to place the five-year, non-recourse construction loan with a life insurance company.

California Crossings will be situated on 28.99 acres on Otay Mesa Road in San Ysidro one mile from the U.S.-Mexico International Border, which will offer tenants the ability to store goods duty free and have direct access to international trade and an expanded labor force. The property is in the Otay Mesa Industrial submarket, home to San Diego’s largest concentration of Fortune 500 companies. Additionally, the property is proximate to Interstates 5, 8, 15 and 805, the region’s arterial thoroughfares connecting to all of Southern California’s vital trade routes. The buildings will have state-of-the-art industrial space and feature minimum clear heights ranging from 30 to 32 feet, concrete truck yards with ample turnaround space, a small mezzanine build out, 126 dock-high doors and nine grade-level doors.

The JLL Capital Markets Debt and Equity Placement team representing the seller was led by Senior Managing Director Aldon Cole, Managing Director Bryan Clark and Analyst Brad Vansant.

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 sales 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 Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Sudberry Properties

San Diego-based Sudberry Properties is a real estate development and management firm specializing in retail town centers, mixed-use projects, master-planned communities, apartments, hotels and office/industrial properties. Since its inception in 1979, Sudberry Properties has developed approximately 12.6 million square feet of commercial and residential property with a market value exceeding $2.5 billion. 

The privately owned company has developed more than 5 million square feet of inviting lifestyle centers and approximately 4 million square feet of office and industrial space. Sudberry Properties also has completed or is in the process of building more than 2,500 apartment units. A few of the major projects under development in San Diego County include: The Watermark and The Hub, both in Scripps Ranch, the Otay River Business Park in Chula Vista, the mixed-use El Corazon in Oceanside; and Civita, a 230-acre, walkable urban village in Mission Valley. In Henderson, Nevada, the company is in the planning stage of a 102-acre live-work-play community called Henderson West.