Development firm The Shamrock Group LLC, based in Solana Beach, has obtained a $40 million construction loan for a new outlet shopping center it is building in San Ysidro.
The 140,000-square-foot Outlets at the Border will consist of four buildings on 10 acres near a U.S.-Mexico border crossing. Full development costs were not disclosed in a statement by Canyon Capital Realty Advisors LLC of Los Angeles, which arranged the financing.
The center is slated to open before the 2014 holiday shopping season. Canyon Capital said it will be the closest retail center adjacent to the San Ysidro Port of Entry.
Shamrock Group last year completed Plaza at the Border, a 98,000-square-foot retail center located near Simon Property Group Inc.’s Las Americas Premium Outlets.