JLL Arranges $66.8M Refinancing for Industrial Development in Stuart, Florida

STUART, FLORIDA — JLL Capital Markets has arranged a $66.8 million loan to refinance South Florida Gateway, a 987,184-square-foot industrial development located at 2400-2450 Southwest Gateway Place in Stuart, a coastal city about 40 miles north of West Palm Beach. Melissa Rose, Michael DiCosimo, Michael Romero and Nicole Diaz of JLL secured the floating-rate loan on behalf of the borrowers, Orlando-based Foundry Commercial and San Francisco-based Stockbridge Capital Group. The lender was not disclosed. South Florida Gateway comprises two newly delivered buildings that are situated on nearly 65 acres. 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.