JLL Capital Markets has arranged $66.8 million in floating-rate refinancing for South Florida Gateway, a nearly one-million-square-foot industrial development in Stuart, Florida. The two-building, Class A property was developed on 66.4 acres and is currently 19% occupied. Its location provides access to major highways, ports and population centers across the state.
Key takeaways
The refinancing supports a large, newly delivered industrial campus in the Martin Inland submarket, while the property’s current occupancy leaves substantial space available for future tenants.
- JLL arranged $66.8 million in floating-rate financing for the borrower, Foundry Commercial and Stockbridge Capital Group.
- South Florida Gateway totals 987,184 square feet across two buildings.
- The development is 19% occupied by an industrial manufacturing tenant.
- The site is within five minutes of Interstate 95 and has connections to Florida’s Turnpike, airports and ports.
Financing and development details
JLL said it arranged the refinancing on behalf of Foundry Commercial and Stockbridge Capital Group. The financing is floating-rate; the announcement did not disclose additional loan terms. The JLL team was led by Senior Managing Director Melissa Rose and Senior Director Michael DiCosimo, with Associates Michael Romero and Nicole Diaz.
The newly delivered development includes two distinct warehouse and distribution facilities. Building One has 285,510 square feet of rear-load warehouse space, 32-foot clear heights, 60 dock doors and two drive-in ramps. Building Two offers 701,674 square feet of cross-dock distribution space, 36-foot clear heights, 120 dock doors and four drive-in ramps.
Regional access and market reach
South Florida Gateway is located at 2400–2450 S.W. Gateway Place in Stuart, within the Martin Inland submarket of Port St. Lucie. According to JLL, the property’s position between Miami and Orlando puts more than six million customers within a two-hour drive. Its location also connects tenants to Florida’s Turnpike and six major international airports.
The site can reach more than 20 million residents within a four-hour drive—about 89% of Florida’s population, JLL said. Four major ports in the region collectively handle more than 50 million tons of cargo annually, supporting the site’s potential role in statewide and broader distribution networks.
What the refinancing signals
The transaction adds financing to a substantial industrial project in a strategically connected part of Florida. With most of its space not yet occupied, South Florida Gateway has room to accommodate additional industrial users as leasing progresses. The announcement did not provide a leasing timetable or identify prospective tenants.