Seagis Secures $102M In Financing For Class A Industrial Portfolio

JLL Capital Markets arranged $102 million in financing for the Seagis Class A Industrial Portfolio, which includes two newly completed warehouse distribution centers encompassing 317,474 square feet in South Florida.

JLL worked on behalf of the borrower, Seagis Property Group LP, to secure the seven-year, fixed-rate, interest only loan through its correspondent, Columbus, Ohio-based Nationwide.

The portfolio is located in some of the best infill locations within their respective markets.

1700 Eller Drive in Hollywood is a 199,643-square-foot facility with direct access to Port Everglades and just east of Fort Lauderdale-Hollywood International Airport. The second asset is a 117,831-square-foot warehouse at 8315 NW 27th Street in Doral, located near Miami International Airport within the sought-after Transal Park.

A 178,200-square-foot warehouse in Newark, New Jersey was included in the transaction.

The assets were constructed between 2023 and 2024 and are situated in two of the strongest industrial markets on the Eastern Seaboard. These state-of-the-art facilities feature 32- to 40-foot clear heights, ample truck and car parking, optimized building depths and numerous loading doors to meet the high demands of top tenants.

The JLL Debt Advisory team was led by Senior Managing Directors Jim Cadranell and Gregory Nalbandian and Vice President Michael Lachs.

“We are pleased to facilitate the financing of this best-in-class portfolio, enhancing Seagis Property Group’s ability to capitalize on these premium assets in highly demanded markets,” said Nalbandian. “This portfolio provided a financing opportunity that offered scale, strong submarkets, diversification, credit tenancy and a WALT of almost 10 years. Nationwide stepped up for this attractive financing and delivered premium economic terms.”