JLL Arranges $27M Construction Loan for Whitney Ranch Retail Center

Rocklin, Calif., September 27, 2025

News Summary

JLL Capital Markets arranged a three-year, $27 million construction loan through U.S. Bank on behalf of Blue Coast Capital to fund the Whitney Ranch Retail Center in Rocklin, Calif. The to-be-built, 52,200-square-foot neighborhood center will feature about 35,000 square feet of inline and standalone retail plus five ground-leased pad sites. The development is roughly 60 percent preleased and will be shadow-anchored by a large regional supermarket, boosting its draw for other tenants. With financing in place, the project will move into construction and early lease-up over the coming years.

JLL Arranges $27 Million Construction Loan for Whitney Ranch Retail Center in Rocklin

A three-year, $27 million construction loan has been secured to build the Whitney Ranch Retail Center, a planned neighborhood shopping complex in the Whitney Ranch community of Rocklin, California. The loan was arranged by a capital markets team on behalf of the developer and provided by a national bank as a three-year facility. The project is slated for completion in 2026.

Project scope and tenancy

The to-be-built center will total 52,200 square feet. That includes roughly 35,000 square feet of inline and standalone retail space, plus five ground-leased pad sites that together add 17,200 square feet of potential restaurant or service space. The development will be shadow-anchored by an upscale regional supermarket chain that operates multiple stores across Northern California; one report cites a 43,000-square-foot grocer as the nearby anchor. The center is reported to be roughly 60 percent preleased to a mix of local, regional and national tenants.

Location and timing

Whitney Ranch Retail Center sits inside a larger master-planned community about 22 miles northeast of Sacramento. The project schedule targets completion in 2026, giving the developer and lender a multi-year runway to finish construction and stabilize leasing.

Deal participants and financing terms

The borrower was represented by a capital markets intermediary working on behalf of the development firm. The three-year construction loan was placed with a major U.S. bank. The facility is structured to cover hard and soft costs through construction and initial lease-up, with typical requirements for draws, reporting and completion milestones.

Why the deal matters

The transaction illustrates continued investor interest in neighborhood retail that pairs grocery-anchored foot traffic with service and convenience uses. Ground-leased pad sites also offer development flexibility for food, medical or service tenants that complement the anchor grocery. The deal comes amid a shifting commercial real estate environment in which lenders are weighing borrower experience, location fundamentals and prelease commitments when underwriting new retail construction.

Regional commercial real estate events and programming

Several upcoming industry gatherings aim to bring together owners, operators, developers and capital sources across property types. Event topics include retail, industrial, office, multifamily and healthcare real estate; investment and financing trends; sale-leaseback and NNN strategies; and multifamily development in fast-growing Southeastern markets. Other programs focus on industrial market performance in key regional metros, medical office and healthcare RE, seniors housing operations in the Northeast and Mid-Atlantic, and experience-driven destination planning. Attendees are expected to include institutional and private investors, lenders, brokers and local market professionals.

Local PPP loan controversy and pandemic developments

A large suburban church that openly resisted state limits on indoor gatherings is listed in the federal payroll protection program (PPP) database with a loan range indicating receipt of several hundred thousand dollars. The church held both indoor and outdoor services with substantial attendance and had previously announced plans to remain open despite state directives that suspended indoor worship in many counties during a COVID-19 surge. The PPP database shows loan ranges rather than exact amounts and records the application date in early April, shortly after the program launched under the pandemic relief legislation.

The PPP program attracted controversy after public release of recipient lists that showed a wide range of borrowers including large national chains and local institutions. The loans carry a low interest rate and can be forgivable if funds are used largely to retain payroll under program rules. Local filings show some religious institutions requested loans to preserve hundreds of payroll positions. At the same time, many small independent businesses reported difficulty obtaining funds despite applying early, prompting concerns about access and equity.

Legal battles over public health orders and religious services have surfaced in several jurisdictions. Courts have generally treated emergency public health measures as permissible uses of state police powers during the pandemic, and some initial legal challenges to restrictions have been rejected. Local health reporting at the time included statewide pandemic tolls in the thousands and localized fatalities in county-level counts, factors that influenced renewed restrictions on indoor activity.

Broader economic notes

The third quarter of the year saw increased consumer interest in electric vehicles as purchasers rushed to qualify for a federal tax credit set at a specified amount. That surge is an example of how tax policy and incentive timelines can influence sector dynamics late in a reporting period.

Frequently Asked Questions

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Key project and context features

Deeper Dive: News & Info About This Topic

Additional Resources

• ReBusiness Online: JLL Secures $27M Construction Loan for Whitney Ranch Retail Center
• Wikipedia: Whitney Ranch / Rocklin, California (search)
• ReBusiness Online: Centersquare Acquires North Bear Crossing Retail Property in Lakewood, CO
• Google Search: North Bear Crossing Lakewood Colorado retail
• The Sacramento Bee: Health & Medicine (regional public health/legal story)
• Encyclopedia Britannica: California churches COVID-19 public health orders (search)
• Automotive News: California Car Dealership Pay Plan Breaks Down Sales/Fi Silos
• Google Scholar: automotive dealership compensation plan sales finance
• Business Insider: California Church Defying Shutdown Orders Got $350,000 PPP Loan
• Google News: PPP loan churches California controversy

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