SAN FRANCISCO - TelAve -- Mesa West Capital has provided a joint venture between Palisade Group and Pearlmark with $30 million in first mortgage debt for the acquisition, renovation and lease up of 7411 Central Avenue, a 143,000-square-foot industrial building in Newark, CA, an industrial submarket in San Francisco's East Bay.

Built in 1998, the fully vacant property sits on 7.95 acres on the corner of Central Avenue and Filbert Street, in the heart of the I-880 Corridor in the Fremont/Newark submarket, the Bay Area's premier industrial submarket. The building features a 24' clear height, 33 dock-high doors, 12 grade level doors and 310 parking stalls.

Accessibility to three major airports and Northern California's largest port, the Port of Oakland, make the area one of the most sought-after logistical destinations in the Bay Area. Due to its location, distribution and warehouse space is in particularly high demand. The region is also a hub for advanced manufacturing, with AI hardware, electric vehicles and robotics representing roughly 30% of manufacturing tenant requirements in the region. According to JLL, demand from advanced manufacturing in the East Bay has increased 160% since the start of the year, with a majority seeking buildings that can accommodate higher power requirements.

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"There is especially robust demand in East Bay, and particularly in the Newark submarket, from companies utilizing space in various ways ranging from warehouse distribution to advanced manufacturing" said Josh Westerberg, Head of Originations for the Western Region at Mesa West Capital. "The sponsor's robust capital improvement plan for this property will broaden the potential tenant pool and capture this demand."

The financing was arranged by David Pelaia and Josh Blank out of JLL's West Log Angeles office.

About Mesa West Capital, LLC

Mesa West Capital (http://www.mesawestcapital.com) is a leading commercial real estate debt fund manager and portfolio lender. With offices in Los Angeles, New York, Chicago, San Francisco, and Houston, Mesa West has been one of the leading providers of commercial real estate debt since its founding in 2004. Mesa West provides non-recourse first mortgage loans for core/core-plus, value-add and transitional properties throughout the United States. Mesa West's lending portfolio includes all major property types with loan sizes ranging from $20 million up to $400 million. Since inception, the firm has sourced and closed more than 450 transactions totaling over $28 billion.