JLL Closes $66.8M Financing For South Florida Industrial Development
JLL Capital Markets has arranged $66.8 million in refinancing for South Florida Gateway, a 987,184-square-foot Class A industrial development located at 2400-2450 SW Gateway Place in Stuart.
JLL worked on behalf of the borrower, Foundry Commercial and Stockbridge Capital Group, to secure a floating-rate loan.
The property comprises two newly delivered buildings on a 66.4-acre site in the Martin Inland submarket of Port St. Lucie. Building One features 285,510 square feet of rear-load warehouse space with 32-foot clear heights, 60 dock doors and two drive-in ramps. Building Two encompasses 701,674 square feet of cross-dock distribution space with 36-foot clear heights, 120 dock doors and four drive-in ramps. The property is 19% occupied by a tenant in the industrial manufacturing sector.
South Florida Gateway provides direct access to Interstate 95 within five minutes, positioning tenants to reach more than 6 million customers within a two-hour drive. The property’s central location between Miami and Orlando offers connectivity to Florida’s Turnpike and six major international airports, along with four major ports that collectively handle more than 50 million tons of cargo annually. The facility provides access to more than 20 million residents within a four-hour drive, representing 89% of Florida’s population.
The JLL Capital Markets team was led by Senior Managing Director Melissa Rose and Senior Director Michael DiCosimo, along with Associates Michael Romero and Nicole Diaz.
Key Facts
- Property: South Florida Gateway
- Location: 2400–2450 S.W. Gateway Place, Stuart, Florida
- Asset Type: Class A industrial development
- Transaction Type: Refinancing
- Borrowers: Foundry Commercial and Stockbridge Capital Group
- Size: 987,184 square feet across two newly delivered buildings on 66.4 acres
- Financing: $66.8 million floating-rate loan
- Brokers: JLL Capital Markets team led by Melissa Rose and Michael DiCosimo, with Michael Romero and Nicole Diaz
- Other Notable Details: The property was 19% occupied by an industrial manufacturing tenant.