JLL Arranges $33.8M Construction Loan for 428K-SF Class A Warehouse at 10400 Amargosa Road in Hesperia
JLL Capital Markets arranged a $33.8 million first-lien construction loan for a 428,185-square-foot Class A industrial facility at 10400 Amargosa Road in Hesperia, California, financing developer Covington Group for owner/user Pixior Group; completion expected in 11 months.
Key takeaways
- Loan: $33.8 million first-lien construction financing (five-year fixed-rate loan with extension options) arranged by JLL and provided by TDA Investment Group on behalf of a pension client.
- Property: 428,185-square-foot single-tenant Class A industrial building on a 21.5-acre site at 10400 Amargosa Road, including ±8,000 SF of office space.
- Specs: 36-foot clear heights, 49 dock-high doors, two grade-level doors, ESFR sprinklers, 59 trailer stalls, 216 auto stalls with EV charging, and 4,000A/480V power.
- Timing & marketing: Construction expected to finish in ~11 months; property listed for lease/sale via CBRE.
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Loan and deal specifics
JLL Capital Markets closed a $33.8 million first-lien construction loan for the Hesperia development at 10400 Amargosa Road. The financing is structured as a fixed-rate loan for an initial five-year term with extension options to support construction and early lease-up. Lender documentation identifies TDA Investment Group as the capital source on behalf of a pension client — a common institutional structure for long-term industrial investments.
For the firm announcement, see the JLL newsroom: Loan secured for Hesperia Class A industrial development and coverage in the Los Angeles Times (B2B).
Project design and capabilities
The single-tenant, Class A warehouse is designed for contemporary logistics operations and includes:
- Size: 428,185 SF on a 21.5-acre developable site, plus approximately 8,000 SF of office space.
- Vertical clearance: 36-foot clear heights to support high-density racking.
- Loading & circulation: 49 dock-high doors, two grade-level doors, ESFR fire sprinkler system and a fully secured truck court with 59 trailer stalls.
- Parking & power: 216 auto stalls with EV charging capability and 4,000A/480V electrical service for equipment and automation.
Listing pages and property briefs confirm specifications: see the CBRE property listing and the LoopNet listing.
Location and logistics advantages
10400 Amargosa Road sits directly along Interstate 15 with quick access to State Routes 18 and 395, and proximity to Southern California Logistics Airport and Ontario International Airport. The site is within the Hesperia–Victorville logistics corridor, an Inland Empire submarket that has attracted tenants such as Amazon, Maersk, Peloton and Boeing, and benefits from relative proximity to the Los Angeles–Long Beach port complex.
Those locational strengths underpin demand for import-driven short-haul transloads, regional distribution and e-commerce fulfillment operations.
Market context and demand drivers
The Inland Empire, home to roughly 4.6 million residents across San Bernardino and Riverside counties, is a major logistics hub for the Greater Los Angeles Basin. High demand for large-format distribution space — driven by e-commerce expansion, land cost differentials and congestion in coastal markets — has sustained capital flows into Class A industrial product across the region.
Industry reporting highlights continued appetite for well-located industrial assets that can serve corporate fleets, third-party logistics providers and e-commerce users; this transaction aligns with those trends (see coverage in the Los Angeles Times and Traded.co deal summary).
Who’s building and who will occupy it
Developer: The Covington Group. Owner/user: Pixior Group. Finance advisor/arranger: JLL Capital Markets (Debt Advisory).
JLL’s Debt Advisory team that represented the borrower included Senior Managing Director Matt Stewart, Director Kellan Liem, Associate Allie Black and Analyst Cameron Sepahi. The lender is TDA Investment Group acting for a pension client. The property is actively marketed for lease or sale by CBRE.
Statements from the deal team
Matt Stewart, senior managing director with JLL Capital Markets’ Debt Advisory team, described the project as “a state-of-the-art logistics facility in one of Southern California’s most rapidly growing industrial corridors,” citing the site’s I‑15 visibility, modern specifications and distribution hub access as core investment drivers.
Local coverage and listing details
Local commercial real estate outlets reported on the financing and development, noting the site’s visibility from I‑15 and the broader push to expand logistics capacity in the Victor Valley and High Desert. Additional confirmation of specs and active marketing is available on listing platforms: LoopNet and CBRE.
Implications for the Inland Empire, California
Economic impact: Construction will generate short-term jobs in trades and site work; operational phases could support hundreds of logistics and warehouse roles depending on automation and user needs. The project expands leasable Class A inventory for e-commerce, freight and corporate logistics users.
Political consequences: Local officials and planners may welcome tax revenue and job creation but must address traffic, environmental and infrastructure concerns tied to increased truck activity along I‑15 and access routes.
Social effects: Nearby residents can expect increased commercial vehicle traffic and potential changes to noise and air quality patterns. The inclusion of EV charging stalls signals private-sector movement toward cleaner commuting and fleet options.
Cultural relevance: For Hesperia and the Inland Empire, large logistics projects underscore the region’s role as Southern California’s distribution backbone while prompting discussion about balancing growth with community quality of life.
Practical applications for residents: Watch for construction and hiring notices for trades and warehouse roles; expect increased truck volumes on I‑15 and feeder roads during construction and operations; contact CBRE for leasing or purchase inquiries.
Sources and further reading
- JLL newsroom: Loan secured for Hesperia Class A industrial development
- Los Angeles Times (B2B): Hesperia industrial development construction loan
- REBusinessOnline: JLL secures $33.8M construction loan for Hesperia development
- Traded.co deal summary: 10400 Amargosa Road loan details
- ConnectCRE: Hesperia industrial secures first-lien construction financing
- CBRE property listing: 10400 Amargosa Rd., Hesperia
- LoopNet listing: 10400 Amargosa Rd.
- VVNG local coverage: New 428K SF industrial project planned along I-15 in Hesperia
- RENTV building features brief
