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SEAL BEACH, CA-Overton Moore Properties of Gardena has secured a$74.5-million construction loan from El Segundo-based Pacific CoastCapital Partners to finance the $110-million, 830,000-sf GatewayBusiness Center that Overton Moore is developing here. The projectwill comprise 10 light industrial and office buildings on a 44-acresite at the intersection of Seal Beach Boulevard and WestminsterAvenue that Overton Moore acquired from Boeing Realty Corp.

Michael Nagin, principal of Pacific Coast Capital Partners, saysthat the lender sees demand for the space because the Orange Countyindustrial market is "extremely deep," with more than 245 millionsf and a vacancy rate of approximately 3.5%. Finding sites todevelop new industrial buildings "is becoming increasinglydifficult," Nagin points out.