JLL arranges $33.5M refinancing for industrial property in Cerritos, CA

LOS ANGELES, June 2, 2026 – JLL Capital Markets announced today that it has arranged $33.5 million in refinance proceeds for the Class A single-tenant industrial building located at 15959 Piuma Ave. in Cerritos, California. Developed and owned by Karney Properties, the 178,454-square-foot facility is one of the largest and newest assets in its highly infill section of the market.

JLL worked on behalf of the borrower, Karney Properties, to secure a fixed-rate loan through Nationwide.

The asset serves as a distribution hub for an investment grade rated logistics company that operates across the grocery, food service, safety, retail and healthcare sectors. The building features 32-foot clear heights, ample dock-high loading and ESFR sprinklers. The site includes fully concrete truck courts, full circulation and significant capacity for automobile parking and excess trailer storage.

Located directly adjacent to I-605 on the edge of the Cerritos submarket, the property provides excellent access to major thoroughfares and logistics hubs such as the Port of Los Angeles and Long Beach, Los Angeles International Airport (LAX) and the Los Angeles BNSF Intermodal facility. With immediate direct access to I-605, occupants of the site can access State Route 91, Interstate 105 and Interstate 5 within minutes.

The JLL Capital Markets team was led by Senior Managing Director Matt Stewart, Managing Director Mark Wintner and Associate Jacob Michael.

"Karney Properties has been one of Southern California's most prominent industrial operators for more than 70 years," said Stewart. "This transaction reflects strong lender confidence in both the Sponsor's proven track record and the property's irreplaceable location in a supply-constrained market."

JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. The group has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.

JLL (NYSE:JLL) is a leading global commercial real estate services and investment management company with annual revenue of $26.1 billion, operations in over 80 countries and a global workforce of more than 113,000 as of March 31, 2026. For over 200 years, clients have trusted JLL, a Fortune 500^® company, to help them confidently buy, build, occupy, manage and invest across a variety of industries and property types, including office, industrial, hotel, multi-family, retail and data center properties. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY. Powered by rich global datasets and leading technology capabilities, we provide coordinated, end-to-end delivery of real estate services for a broad range of global clients who represent a wide variety of industries. Through LaSalle Investment Management, we invest for clients on a global basis in both private assets and publicly traded real estate securities. For further information, visit jll.com.

For more than 70 years, Karney Properties has acquired, developed, financed and managed a dynamic portfolio leased to leading global, national, and regional businesses. The Company’s portfolio consists of millions of square feet of prime Southern California and Phoenix real estate. Headquartered in Santa Monica, Karney Properties is a family-owned, institutionally operated investor and developer.