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 $27M Construction Loan for New Whitney Ranch Retail Center in Rocklin
A three‑year, $27 million construction loan has been arranged for a new neighborhood retail center planned in the Whitney Ranch community of Rocklin, Calif. The loan was secured through U.S. Bank on behalf of developer Blue Coast Capital, with JLL Capital Markets representing the borrower. The to‑be‑built project covers 52,200 square feet and is slated for completion in 2026.
The development will include roughly 35,000 square feet of inline and standalone retail space plus five ground‑leased pad sites totaling about 17,200 square feet. The center will be shadow‑anchored by Nugget Markets, an upscale Northern California supermarket chain. One version of planning materials lists a roughly 43,000‑square‑foot Nugget grocer near the site. At the time of reporting, the project was reported to be about 60 percent preleased to a mix of local, regional and national tenants.
The site sits within the master‑planned Whitney Ranch community, located in the Rocklin area approximately 22 miles northeast of Sacramento. The construction loan term is three years, providing capital for building through the planned completion horizon in 2026.
Why this matters
The loan and lease commitments indicate continued investor interest in neighborhood retail projects that pair daily‑needs grocers with smaller service and food tenants. Ground‑leased pad sites provide flexibility for restaurants, banks or quick‑service operators. A shadow anchor by an established grocer can lift leasing momentum for surrounding spaces and improve long‑term value for the center.
Regional commercial real estate events and networking
- Networking and educational events focused on retail, industrial, office and multifamily sectors are scheduled regionally, offering meetings with capital sources and decision‑makers.
- Programs will explore investment, development and financing trends, including improving conditions in NNN and sale‑leaseback spaces at InterFace Net Lease sessions.
- InterFace St. Louis Multifamily events bring senior executives and capital providers together for market strategy discussions.
- Local industrial programs will highlight acquisition, development, leasing and financing conditions in Salt Lake City and nearby markets.
- Healthcare real estate and medical office building owners and operators will meet across the Southeast to review investment and operations trends.
- Multifamily programming in the Southeast will focus on development drivers and operational challenges in one of the fastest‑growing regions.
- Panels and workshops will examine seniors housing trends across the Northeast and Mid‑Atlantic, including financing and operations.
- Entertainment Experience Evolution showcases new ideas and partnerships shaping place‑based destinations.
- Several events include informal networking with drinks and appetizers to encourage relationship building among dealmakers.
Local pandemic developments and PPP church loan controversy
A large Rocklin church that drew several hundred attendees for combined indoor and outdoor services recently appears in federal Paycheck Protection Program (PPP) data as having received a loan in the range of $350,000 to $1 million, with the award recorded on April 8. The church reported that the requested funds would support payroll for about 140 employees. The loan range reflects the disclosure format used in the public PPP recipient dataset, which lists ranges rather than exact amounts for awards at or above $150,000.
The PPP program was launched under the CARES Act to provide payroll relief through loans with a 1% interest rate that may be forgivable when used predominantly to retain employees. The program has been controversial, particularly after public disclosure of some recipients and sizes, and after reports that some large national chains obtained sizable loans while some small independent businesses struggled to access funds. The program later reopened with an extended application window through an August deadline for additional rounds.
Other faith‑based organizations in the region also appear in the PPP dataset, with ranges showing awards between $1 million and $2 million to one organization (for roughly 228 jobs) and between $2 million and $5 million to another (for roughly 375 jobs). The distribution of funds prompted local debate over access and fairness, particularly for smaller operators and independent businesses that reported trouble obtaining immediate relief despite applying early.
Health orders, legal context and local reaction
State public‑health orders issued in mid‑July required the suspension of indoor worship activities in most counties as coronavirus cases rose. Local leaders engaged with congregations about how to align services with state and federal health guidance, and municipal staff said they were working with at least one large church to find ways for services to proceed while adhering to public‑health requirements. Court challenges to pandemic restrictions have been filed in several instances; at the federal level, judges have evaluated those requests and, in at least one order, upheld emergency public‑health powers as permissible in light of the public‑health emergency.
At the time of reporting, the statewide coronavirus death toll was approaching 7,700, with double‑digit counts in Placer County and nearly 100 deaths in Sacramento County, according to state and local health data.
Market note
Outside real estate and public‑health coverage, the third quarter saw an uptick in consumer interest in electric vehicles in the final days before a federal $7,500 tax credit deadline, a factor that influenced auto sales patterns in the period.
Frequently Asked Questions
Q: What is the size and scope of the Whitney Ranch retail project?
A: The project is planned at about 52,200 square feet, with roughly 35,000 square feet of inline and standalone retail and five ground‑leased pad sites totaling approximately 17,200 square feet. It sits within the Whitney Ranch master‑planned community.
Q: Who provided financing and who is the borrower?
A: U.S. Bank provided a three‑year construction loan arranged by JLL Capital Markets on behalf of borrower Blue Coast Capital for a loan amount of $27 million.
Q: When is the center expected to open?
A: The project is planned for completion in 2026, consistent with the construction loan term and development schedule.
Q: What does “shadow‑anchored” mean in this context?
A: A shadow anchor is a major retail tenant located near but not on the same parcel as the smaller retail center; the presence of a nearby anchor like Nugget Markets can increase foot traffic and leasing demand for the center’s tenant spaces.
Q: What are the main issues in the PPP church loan controversy?
A: Issues include the appearance of some large recipients on publicly released PPP lists, the use of loan ranges rather than exact figures in the public dataset, the timing of awards relative to program rollout, and concerns about equitable access for small businesses and nonprofits.
Q: Where can professionals learn more about the market?
A: Regional conferences, InterFace events and sector‑specific panels on retail, multifamily, industrial and healthcare real estate provide forums to learn about capital availability, leasing trends, development strategies and operational issues.
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Key features at a glance
| Feature | Details |
|---|---|
| Project | Whitney Ranch Retail Center, Rocklin, CA |
| Loan amount | $27 million construction loan |
| Lender | U.S. Bank |
| Arranger / Representative | JLL Capital Markets (on behalf of Blue Coast Capital) |
| Size | 52,200 sq ft total; ~35,000 sq ft inline/standalone; 5 pads ~17,200 sq ft |
| Anchor | Nugget Markets (shadow anchor; one version lists a ~43,000 sq ft grocer) |
| Leasing status | Reported ~60% preleased to a mix of tenants |
| Completion | Expected in 2026 |
| PPP controversy note | Local church listed as PPP recipient in $350k–$1M range; dataset shows ranges, not exact amounts |
| Regional health context | Statewide pandemic fatalities nearing 7,700; local county impacts noted |
| Other market note | Third quarter consumer interest in electric vehicles rose as federal tax credit deadline approached |
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
Author: Construction TX News
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