Financing secured for Lyons Technology Center in Florida
JLL Capital Markets represented Stockbridge in arranging acquisition financing for Coconut Creek industrial portfolio
MIAMI, Nov. 14, 2023 – JLL Capital Markets announced today that it arranged acquisition financing for Lyons Technology Center, a 232,833-square-foot light industrial portfolio in Coconut Creek, Florida.
JLL worked on behalf of the borrower, Stockbridge, to secure the five-year, fixed-rate loan from Nationwide.
The six-asset portfolio is 89% occupied and features 18- to 24-foot clear heights and front- and rear-loading capabilities. The properties are located at 4811-4911 Lyons Tech Pkwy. and 4611-4661 and 4701 Johnson Rd.
The portfolio is strategically situated off Lyons Rd., one block east of State Rd. 7 with excellent access to the Sawgrass Expressway, which ties to Florida’s Turnpike and I-95. The assets are in the City of Coconut Creek, within the Broward County market and a 34-minute drive from Fort Lauderdale’s CBD. The site’s proximity to multiple major highway systems allows users to reach over 5.5 million people in a 60-minute drive.
The South Florida MSA is among the fastest growing in the U.S., with population projected to increase by over 30% by 2030. The growth in the immediate area and the high concentration of residents with a strong demographic profile ensures the portfolio will have consistent occupancy from the nearby tenant base.
The JLL Capital Markets team was led by Senior Managing Director Melissa Rose, Director Michael DiCosimo and Analyst Mateo Bolivar.
“We would like to thank Stockbridge for their trust in engaging our team amidst a very uncertain lending environment,” said Rose. “This successful transaction showcases the resilient lender appetite for cash-flowing industrial assets in core markets of South Florida.”
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.
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About Stockbridge
Stockbridge is a private equity real estate investment management firm led by veteran industry professionals. The firm’s portfolio comprises assets across the investment risk spectrum, including core, value-add and opportunistic strategies. Stockbridge and its affiliates have approximately $33.8 billion of assets under management (as of June 30, 2023) spanning all major real estate property types and certain specialty property types throughout the United States. For more information, visit stockbridge.com.
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 $20.8 billion and operations in over 80 countries around the world, our more than 106,000 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.