{"id":1004782376,"date":"2025-12-23T05:05:05","date_gmt":"2025-12-23T13:05:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004782376"},"modified":"2025-12-23T05:05:07","modified_gmt":"2025-12-23T13:05:07","slug":"seagis-refis-industrial-portfolio-for-176m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/","title":{"rendered":"Seagis Refis Industrial Portfolio for $176M"},"content":{"rendered":"\n<p>Seagis Property Group LP has refinanced a six-property industrial portfolio totaling 1.2 million square feet in Northern New Jersey and South Florida, in the form of a $176 million permanent loan. The eight-year, fixed-rate financing is through Nationwide.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004782396\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/seagis-6-property-nj-fl\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL.jpg\" data-orig-size=\"1180,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Seagis 6 Property NJ &#8211; FL\" data-image-description=\"&lt;p&gt;Image came with press release via e-mail &lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Part of the industrial portfolio that Seagis Property Group refinanced recently. Images courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL.jpg?w=1024\" height=\"538\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL.jpg?w=1024\" alt=\"Part of the industrial portfolio that Seagis Property Group refinanced recently\" class=\"wp-image-1004782396\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL.jpg 1180w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL.jpg?resize=300,158 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL.jpg?resize=768,404 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL.jpg?resize=1024,538 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Part of the industrial portfolio that Seagis Property Group refinanced recently. <em>Images courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The portfolio is 96 percent occupied, with the four largest tenants comprising 81 percent of the total leasing.<\/p>\n\n\n\n<p>Four of the assets are in infill locations in Northern New Jersey, including sites in Carlstadt, Lyndhurst, Carteret and North Brunswick. The properties each feature 16- to 25-foot clear ceiling heights and a sizable number of loading docks. They have access to Port Newark\/Elizabeth, Newark Liberty International Airport, the New Jersey Turnpike and other highway networks.<\/p>\n\n\n\n<p>The two Florida assets are in Doral, a Miami suburb and part of the Airport West submarket. The location offers access to Miami International Airport and Ronald Reagan Turnpike.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/a-bit-up-a-bit-down-manufacturings-mixed-bag\/\">Manufacturing\u2019s Mixed Bag<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>JLL Capital Markets represented the borrower in the deal. The firm&#8217;s Debt Advisory team was led by Senior Managing Directors Jim Cadranell and Gregory Nalbandian, Vice President Michael Lachs and Analyst Kevin Badger.<\/p>\n\n\n\n<p>The deal is similar to a refinancing that Seagis undertook earlier this year, when the company refinanced two fully leased industrial portfolios totaling 1.5 million square feet in the Miami-Dade and Northern New Jersey markets. <a href=\"https:\/\/www.commercialsearch.com\/news\/seagis-refinances-2-industrial-portfolios-for-184m\/\">JLL arranged two loans<\/a> in that case, totaling $184 million, through a life insurance company.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-industrial-fundamentals-cool\">Industrial fundamentals cool<\/h2>\n\n\n\n<p>After years of boom, the U.S. industrial market has cooled, reflecting broader <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-next-for-industrial-real-estate\/\">industrial real estate trends<\/a>. Rent increases are slower, vacancy rates are edging higher and new leasing activity has become more measured, Yardi Matrix reported.<\/p>\n\n\n\n<p>Even so, there are regional variations,&nbsp;with some areas doing better than others, according to Yardi Matrix data. Rental gains remain strongest in high-demand distribution hubs along the East and Southeast corridors, where population growth and infrastructure access support tenant expansion.<\/p>\n\n\n\n<p>At the same time, vacancy reached 9.5 percent nationwide, a level last seen before the pandemic, Yardi Matrix noted. Demand has normalized in recent quarters at the same time as a large volume of projects have been delivered: more than 2.7 billion square feet since 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The collection comprises six properties.<\/p>\n","protected":false},"author":1023,"featured_media":1004782397,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,21742,10,32781],"tags":[44006,33402],"class_list":["post-1004782376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-latest","category-northeast","category-southeast","tag-jll-capital-markets","tag-seagis-property-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Seagis Refis Industrial Portfolio for $176M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Seagis Refis Industrial Portfolio for $176M\" \/>\n<meta property=\"og:description\" content=\"The collection comprises six properties.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-23T13:05:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-23T13:05:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"799\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Dees Stribling\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/\",\"name\":\"Seagis Refis Industrial Portfolio for $176M - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL-1.jpg\",\"datePublished\":\"2025-12-23T13:05:05+00:00\",\"dateModified\":\"2025-12-23T13:05:07+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/dc1e9fa4ee0430d86f8e60cd697c953c\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/seagis-refis-industrial-portfolio-for-176m\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL-1.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/12\/Seagis-6-Property-NJ-FL-1.jpg\",\"width\":799,\"height\":620,\"caption\":\"Part of the industrial portfolio that Seagis Property Group refinanced recently. 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