JLL Capital Markets arranged the financing for two fully leased industrial portfolios located in Miami-Dade County and northern New Jersey
News release
15 April 2025
$184.2M financing secured for Seagis East Coast industrial portfolios
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MORRISTOWN, N.J., Apr. 15, 2025 – JLL Capital Markets announced today that it has arranged $184.2 million in financing for two industrial portfolios totalling 1.5 million square feet across Miami-Dade County, Florida and Northern New Jersey.
JLL worked on behalf of the borrower, Seagis Property Group, to secure two separate loans through a life insurance company: $87.7 million for the Miami-Dade County portfolio and $96.5 million for the Northern New Jersey portfolio.
The Miami-Dade County portfolio consists of seven fully leased industrial properties totalling 787,728 square feet. The assets are strategically located in highly sought-after industrial submarkets with proximity to Miami International Airport and Port Miami. The portfolio has 41 tenants across diverse industries including logistics, food and beverage, retail, e-commerce, packaging, fashion, pharmaceuticals and telecommunications.
The Northern New Jersey portfolio includes six industrial assets totalling 773,433 square feet in prime infill locations across the Meadowlands and Ports submarkets. The fully occupied portfolio is leased to nine tenants across industries including logistics and supply chain, food production and distribution, fashion and apparel manufacturing and packaging and materials. The assets provide excellent access to New York City and Port Newark-Elizabeth.
The JLL Debt Advisory team was led by Senior Managing Directors Jim Cadranell and Gregory Nalbandian, along with Vice President Michael Lachs.
"These portfolios represent institutional-quality industrial product in two of the strongest industrial markets in the country," said Cadranell. "The high-quality tenant rosters, strategic infill locations and continued robust fundamentals in both regions made this an extremely attractive financing opportunity."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Seagis Property Group LP
Seagis Property Group was formed in 2005 and is a leading investor and owner of industrial real estate in New Jersey, New York City, and South Florida. Its investment strategy is focused on the acquisition of strategically located warehouse buildings and development sites that will have an enduring niche within its markets for years to come. Today, Seagis owns and operates 200 buildings totalling nearly 13 million square feet and servicing approximately 600 customers. The company has 60 employees and is headquartered in suburban Philadelphia (Conshohocken, PA) with three regional offices in East Rutherford, NJ, Queens NY, and Ft. Lauderdale, FL.