JLL Capital Markets announced today it has successfully secured $176 million in permanent financing for Seagis Property Group LP, refinancing a high-performing six-property industrial portfolio. The portfolio spans 1.22 million square feet across the primary logistics hubs of Northern New Jersey and South Florida.
The financing, an eight-year, fixed-rate loan provided by Nationwide, underscores continued lender confidence in “last-mile” industrial assets despite a broader market shift toward equilibrium in late 2025.
The portfolio is currently 96% occupied, with a diverse tenant base where the four largest occupants account for 81% of the total space. The assets are strategically divided between two of the most critical logistics corridors in the United States:
Northern New Jersey (4 Properties)
These assets are located in premier infill submarkets, including Carlstadt, Lyndhurst, Carteret and North Brunswick.
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Key Specs: 16- to 25-foot clear heights and modern loading capabilities.
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Connectivity: Immediate proximity to Port Newark/Elizabeth, Newark Liberty International Airport, and the New Jersey Turnpike.
South Florida (2 Properties)
Located in Doral, these facilities sit within the high-demand Airport West Submarket of Miami-Dade County.
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Connectivity: Offers seamless access to Miami International Airport and the Ronald Reagan Turnpike, serving as a global gateway for trade.
The JLL Debt Advisory team, led by Senior Managing Directors Jim Cadranell and Gregory Nalbandian, worked exclusively for Seagis to navigate a capital markets environment that has become increasingly selective.
“This portfolio represents a compelling core financing opportunity that provides scale, critical mass, and stabilized occupancy,” Nalbandian said. “Nationwide delivered a very strong fixed-rate, interest-only loan that met all of Seagis’ objectives.”
The deal highlights a “flight to quality” trend seen throughout 2025, where institutional lenders are prioritizing well-located, fully-leased assets in markets with severe supply constraints.
