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CruzanMonroe Lands $4M Loan for New Asset

SAN DIEGO-Recently formed private real estate firm CruzanMonroe secures a $4-million loan to purchase the historical TR Produce Building in downtown San Diego and convert the industrial facility into restaurant and retail space.

By Erin Cassin | Updated on March 25, 2003

SAN DIEGO-CruzanMonroe, the relatively new real estate firm on the block, has landed a $4-million acquisition and construction loan that has allowed the company to acquire the TR Produce Building in downtown San Diego and move forward with plans to convert the historical facility.

Encompassing 19,500 sf, the TR Produce Building is an industrial property that is located adjacent to the Petco Park baseball stadium in the Ballpark District. CruzanMonroe plans to convert the facility into restaurant and retail space with groundbreaking slated for June 2003.

Scott Abell and Jamie Dick of Burnham Capital Markets Group have secured the funds for CruzanMonroe’s borrowing entity, known as T.R. Produce LLC. The financing has been provided by an undisclosed Southland regional bank.

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