Shopoff Realty Investments has secured a $105 million construction loan from Bank OZK for its I-10 Logistics Center project in Riverside County.
The site is located near the I-10 freeway and Cherry Valley Boulevard interchange. The project is a joint venture partnership between Shopoff Realty Investments and Artemis Real Estate Partners.
Set on 155 acres, the I-10 Logistics Center project includes two high cube logistics/warehouses buildings that have been designed to be eligible for LEED Silver Certification. Building one will cover approximately 814,822 sq. ft. of space and building two will cover approximately 1,017,845 sq. ft. of space, for a total of 1,832,667 sq. ft. of floor area. The project will feature 40-foot clear-height ceilings, 665 employee parking spots, 585 trailer parking spots and 296 dock high doors.
Site development will commence this month with construction anticipated to be completed in summer 2022.