On the north shore of Oahu, Hawaii, RCA Trade Center provides essential infrastructure to agricultural players in Hawaii. Its agriculture warehouse buildings give growers and distributors of local and imported goods the space they need to feed the residents and tourists on the island of Oahu.
Constructing such consequential facilities is no small investment, but RCA’s rural location made it a prime candidate for competitive, government-guaranteed funding through the USDA. North Avenue Capital’s rural lending experts worked closely with RCA’s owner and the USDA’s regional offices to secure $7.88 million in funding.
RCA’s USDA Rural Development loan will be used to complete the construction of four agricultural warehouses, spanning 56,536 square feet, and refinance existing debt at more favorable terms.
Leveraging the sunny climate for additional revenue, the warehouses’ roofs will be leased to a solar developer, who will rent the space where the solar panels are installed.
NAC Market President Jason Hoerr said, “RCA Trade Center provides the essential infrastructure for the agricultural supply chain in Oahu. RCA’s rural operation is a striking example of the significance of the USDA’s Rural Development program, which benefits not just business owners, but rural communities at large.”
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