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ACORE Capital provides $71.25M for Palisade Santee Commerce Center

The project will be built on a 13.4-acre infill site acquired for $22.7 million in Santee, about 20 miles northeast of Downtown San Diego.

Reported · Written up by our desk · Industrial & Land

North Palisade Partners has secured $71.25 million in acquisition and construction financing to develop the Palisade Santee Commerce Center in Santee, California, Commercial Observer reported. ACORE Capital supplied the loan for the ground-up construction of the industrial project in the San Diego region.

Commercial Observer said North Palisade Partners purchased the 13.4-acre infill site at 10990 North Woodside Avenue for $22.7 million from an undisclosed seller. The site is about 20 miles northeast of Downtown San Diego.

According to Commercial Observer, the project will be located near major transportation corridors for connectivity within the county. Cushman and Wakefield negotiated the debt with a team led by Rob Rubano, Brian Share, and Joe Lieske.

The report added that Palisade Santee Commerce Center will include two buildings totaling 290,618 square feet.

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