Rockefeller Group and joint venture partner MBK Real Estate secured a $24.4 million construction loan from Los Angeles-based City National Bank to develop a 297,161 sq. ft. industrial building in Fontana.
The $40-million project, called Fontana Santa Ana Industrial Center, is located at 10965 Banana Ave. in Fontana and recently started construction.
Located just off the I-10 Freeway and Cherry Ave. on-off ramp, the industrial center site is situated at the southeast corner of Santa Ana Ave. and Banana Ave. It will feature 36-foot-clear ceiling heights, approximately 10,000 sq. ft. of speculative office improvements, 164 auto-parking stalls, 185′ truck yard and 59 trailer-parking stalls.
Rockefeller was also able to recently secure both grading and building permits from the City of Fontana, which allowed the company to break ground on the project in April despite the current Covid-19 situation.
The project is expected to be completed in January 2021.