News release

$210M loan secured for Inland Empire industrial development

JLL Capital Markets arranged the construction loan for the 1.68M-SF Ontario Ranch Business Park industrial development

June 21, 2022

Kimberly Steele

Industries, Work Dynamics and PDS PR
+1 713 852 3420

NEWPORT BEACH, Calif., June 21, 2022 – JLL Capital Markets announced today that it has arranged $210 million in construction financing for the development of the first phase of Ontario Ranch Business Park, a Class A, seven-building, 1.68-million-square-foot industrial project currently under construction in the heart of the Inland Empire in Ontario, California.

The development is owned by a joint venture between Newport Beach-based Real Estate Development Associates, LLC (“REDA”) and an industrial fund managed by Clarion Partners, LLC. JLL worked exclusively on behalf of the borrower to place the three-year, floating-rate, interest-only, non-recourse loan with a national bank.

The JV acquired the 84-acre site in December 2020. Once completed, Ontario Ranch Business Park will be a state-of-the-art project with clear heights ranging from 30 to 40 feet, 287 loading positions and 775 parking stalls. The largest building, which will house 1.1 million square feet, is preleased to Fortune 100 company The Home Depot.

Positioned at the intersection of Euclid and Eucalyptus avenues, the project provides direct access to Interstate 15, SR-71 and CA-60, providing easy connectivity to the Ports of Long Beach and Los Angeles as well as Southern California’s dense residential base. Additionally, Ontario Ranch Business Park is across the street from Chino Airport and convenient to both Ontario International Airport and Los Angeles International Airport.

Inland Empire Industrial market has seen overwhelming tenant demand that has continued to push vacancy downward, which now sits at a remarkable 0.4% at the end of the first quarter of 2022. JLL Research has found that the Inland Empire West Industrial submarket, where this project is located, has the lowest vacancy – 0.2% – making the submarket even tighter, and JLL anticipates availability to remain extremely limited over the near-term to mid-term.

The JLL Capital Markets Debt Advisory team representing the borrower included Managing Director Brian Torp, Director Peter Thompson, Associate Samuel Godfrey and Analyst Jordan Leake. 

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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources on JLL, please visit our newsroom.

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 $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit

About Real Estate Development Associates, LLC

Real Estate Development Associates (REDA) is a diversified investment company which acquires and develops industrial and office properties throughout Southern California. Based in Newport Beach, REDA is currently under construction on over three million square feet of Class-A industrial and logistics facilities in the Inland Empire and has a pipeline in excess of 5 million square feet in pre-development and entitlement phases. For more information, visit