Foundry, Stockbridge Land $67M for Treasure Coast Warehouses

September 24, 2026

The first phase of a 1.2 million-square-foot campus backs this financing deal.

Image of two buildings within South Florida Gateway, an industrial park in Stuart, Fla. — South Florida Gateway is a four-building industrial campus close to Interstate 95. Image courtesy of JLL

Foundry Commercial and Stockbridge Capital Group have obtained $66.8 million for the refinancing of two industrial buildings totaling 987,184 square feet in Stuart, Fla. JLL negotiated on behalf of the borrower to secure the floating-rate loan.

The properties involved in the transaction represent the first phase of South Florida Gateway, a 1.2 million-square-foot, four-building campus. They include the 285,510-square-foot Building One and the 701,674-square-foot Building Two.

The industrial complex is close to Interstate 95, providing connections across the Treasure Coast and West Palm Beach area. Port St. Lucie, Fla., is 19 miles away while President Donald J. Trump International Airport is 36 miles southeast. South Florida Gateway is also some 33 miles from Port of Fort Pierce, Fla., which serves as a major maintenance, repair and overhaul facility for mega yachts and large marine vessels.

Treasure Coast’s industrial sector continued its stable performance during the second quarter of 2026, according to a recent report by Colliers. The vacancy rate increased by only 10 basis points to reach 12 percent. Developers had 1.3 million square feet underway as of June, highlighting confidence in the region’s growth prospects.

Part of a spec industrial campus

Foundry broke ground on the two warehouses in 2022, on a 66.4-acre site. Back then, the spec distribution campus was supposed to be part of a 500-acre master-planned, mixed-use development. But those plans never came to fruition.

Completed one year later at 2400 and 2450 SW Gateway Place, Building One features rear-load configuration, 32-foot clear heights, two drive-in ramps and 60 dock doors, while the cross-dock Building Two has 36-foot clear heights, four drive-in ramps and 120 dock doors.

JLL Senior Managing Director Melissa Rose and Senior Director Michael DiCosimo, together with Associates Michael Romero and Nicole Diaz, represented the ownership.