JLL Arranges $33.5M Refinancing for Cerritos Industrial Warehouse Owned by Karney Properties

JLL Capital Markets has arranged $33.5 million in refinancing for a Class A single-tenant industrial warehouse in Cerritos, California, the firm announced June 2, 2026. The fixed-rate loan, secured through Nationwide, covers the 178,454-square-foot distribution facility at 15959 Piuma Ave. and was arranged on behalf of the borrower, Karney Properties.

Industrial Real Estate Deal Details

The warehouse asset, developed and owned by Karney Properties, is described by JLL as one of the largest and newest properties in its section of the Cerritos submarket. The building features 32-foot clear heights, dock-high loading, ESFR sprinklers, fully concrete truck courts, full circulation, and capacity for automobile parking and excess trailer storage.

The property serves as a distribution hub for an investment-grade rated logistics company operating across the grocery, food service, safety, retail, and healthcare sectors.

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," Stewart said in a statement. "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."

Location and Logistics Connectivity

The Cerritos property sits directly adjacent to Interstate 605, positioning it within minutes of State Route 91, Interstate 105, and Interstate 5. The location also provides access to major regional logistics infrastructure, including the Port of Los Angeles, the Port of Long Beach, Los Angeles International Airport, and the Los Angeles BNSF Intermodal facility.

JLL describes the property's location as being on the edge of the Cerritos submarket in a highly infill section of the market.

Sponsor Background

Karney Properties is a family-owned, institutionally operated investor and developer headquartered in Santa Monica, California. The firm has been active in acquiring, developing, financing, and managing commercial real estate for more than 70 years, with a portfolio spanning millions of square feet across Southern California and Phoenix, Arizona.

About the Firms

JLL (NYSE: JLL) is a global commercial real estate services and investment management company reporting annual revenue of $26.1 billion, with operations in more than 80 countries and a global workforce of more than 113,000 as of March 31, 2026. JLL's Capital Markets group includes more than 3,000 specialists in nearly 50 countries, offering services including debt advisory, investment sales, M&A and corporate finance, loan sales, equity and fund placement, net lease, and derivative advisory.

Jones Lang LaSalle Americas, Inc. is a real estate broker licensed with the California Department of Real Estate, license number 01223413.