T
he Inland Empire city of Perris has secured a substantial $135 million construction loan for its new industrial project, Perris Gateway. This project is a joint venture between DECA Companies and Wildcat Capital Management, which will result in an impressive 850,000-square-foot facility. The construction loan was provided jointly by Bank OZK and Affinius Capital, with Affinius providing the subordinate part and Bank OZK originating the senior debt.

    Perris is strategically located about 70 miles southeast of downtown Los Angeles, known for its logistics sector footprint and competitive warehouse rates compared to Los Angeles and Orange counties. Retail giants Ross and Home Depot are among the companies with distribution centers in Perris.

    Once completed, Perris Gateway is expected to feature 40-foot ceilings, 124 docks, four drive-in doors, parking for nearly 350 vehicles, and more than 300 spaces for trailers. DECA Vice President Stanley Zheng describes this facility as a "next-generation" one in a "strategically located supply-constrained market."

    The development is attractive to prospective tenants due to its location off Interstate 215, providing a major freeway artery for industrial users heading to Las Vegas, Phoenix, San Diego, or Tucson. It's also about a 75-mile drive from the San Pedro Bay ports.

    Perris's industrial average lease rates were $1.25 per square foot per month in the second quarter, up from the first quarter's $1.23. The overall Inland Empire eastern region, where Perris is located, had an average second-quarter lease rate of $1.20 per square foot per month, according to CBRE's quarterly market report.

    While the original text provides a detailed overview of the new industrial project in Perris, this rewritten version focuses on the key points and main ideas, reducing the size by approximately 20%. The new version maintains the essence of the original content while using different words to differentiate it from the source material.