JLL represents Snowball Developments' securing $9.5 million loan for fully-leased 115,800 s/f facility

South Windsor, CT JLL Capital Markets has arranged $9.5 million in permanent financing for Snowball Developments’ refinancing of 555 Nutmeg Rd., a fully-occupied 115,800 s/f industrial facility.

JLL represented the borrower, Snowball Developments, in securing a five-year, fixed-rate loan through a life insurance company.

The property, constructed in 1980, is on 12.1 acres and features specialized warehouse capabilities including 14 truck-level loading docks, two drive-in doors and 25-ft. clear ceiling heights with 60-ft. by 25-ft. column spacing. The facility includes 6,580 s/f of office space and provides 44 surface parking spaces, with potential to add another 92 spaces, making it suited for distribution and logistics operations.

The property is 100% occupied by U.S. Autoforce, one of the largest wholesale tire distributors in the United States. The tenant has maintained operations at the facility since its original development in 1980, utilizing the space as a fully-racked warehouse custom-designed for tire storage and distribution.

The JLL Capital Markets team was led by senior director Max Custer, director Ryan Carroll and analyst Michael Donohoe.

Located within the Hartford County industrial submarket, the property offers connectivity to major thoroughfares, including I-84 (3.3 miles), I-91 (3.3 miles), I-291 (2.2 miles), US Rte. 5 (0.2 miles) and I-95 (via connection from I-91). This location provides direct access to major distribution hubs, including Boston, accessible within 100 miles, and New York City, reachable within 130 miles. The facility also has access to cargo services at Bradley International Airport, which is located less than 13 miles away.

“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.”