JLL Capital Markets arranged $9.50 million in permanent financing for Snowball Developments’ refinancing of 555 Nutmeg Rd., a fully occupied 115,800-square-foot industrial facility in South Windsor, CT, within the Hartford industrial submarket. Senior director Max Custer, director Ryan Carroll and analyst Michael Donohoe secured a five-year, fixed-rate loan through a life insurance company.
The property, constructed in 1980, features specialized warehouse capabilities including 14 truck-level loading docks, two drive-in doors and 25-foot clear ceiling heights with 60-foot by 25-foot column spacing. It is 100% occupied by US Autoforce, among the largest wholesale tire distributors in the U.S., which has leased the property since it was built.
“We are pleased to have assisted Snowball Developments in arranging financing for 555 Nutmeg,” said Custer. “Snowball continues to demonstrate their ability to execute on value-add industrial strategies across the Tri-State region, and as a result, there was no shortage of lender interest on this financing opportunity.”
