JLL Secures $23 Million Construction Loan for Redevelopment of Pico Rivera, California Shopping Center

Pico Rivera, Calif. — JLL has secured a $23 million construction loan for Crossroads Plaza Shopping Center, a 140,198-square-foot retail center in Pico Rivera. John Marshall of JLL worked on behalf of the borrower, an entity doing business as Crossroads Plaza LP, and its developer, TRF Pacific LLC, to secure the loan through a regional bank. Loan proceeds will be used to redevelop and renovate portions of the center and develop an additional 12,000 square feet of proposed shop space. Located at 9050-9200 Whittier Blvd., the Crossroads Plaza Shopping Center is a 10.4-acre site that is positioned 13 miles southeast of downtown Los Angeles. Originally built in 1988, Crossroads Shopping Center is undergoing redevelopment to replace a 100,000-square-foot Home Depot whose lease terminated in 2019 after 30 years. The building has been leased to three unnamed national soft goods retailers. The center is shadow anchored by Superior Grocery, an independent grocery store chain based in Southern California.