Thorofare Capital has provided a $12,095,000 floating-rate senior loan for Avondale Logistics Center in Avondale, Arizona. Loan proceeds will refinance bank construction loan, fund reserves for leasing and carry costs through stabilization.

The property is an 86,372 SF Class A industrial warehouse and distribution center located in the South Goodyear submarket of Phoenix, Arizona. The project received its certificate of completion prior to loan closing.

The property is designed to accommodate a variety of industrial operations, such as cold storage, distribution, manufacturing, assembly, and more. With a mix of institutional dock-high and grade-level loading options, this state-of-the-art facility offers 30-foot clear heights, 14 dock-high loading bays with overhead 3 grade-level doors. The warehouse is fully air-conditioned, equipped with energy-efficient LED lighting and skylights throughout and features a 1,560-square-foot office buildout. The 5.17-acre site offers 90 asphalt-paved parking spaces.

Situated in the heart of the Phoenix industrial market, Avondale Logistics Center benefits from Heavy Industrial zoning, making it an ideal choice for diverse industrial uses. Additionally, its strategic location grants easy access to Interstate 10, enabling seamless connectivity to all parts of Metro Phoenix and the entire Southwest.

The loan features an initial two-year loan term, with an option to extend contingent upon meeting specific performance milestones. The property, completed in November 2024, is currently being actively marketed for lease.

The Sponsor is a Phoenix, AZ-based privately-held real estate development and investment firm with extensive experience in industrial transactions throughout the Phoenix metropolitan area.