JLL arranges $9.50M industrial refinancing in Connecticut's Hartford County

MORRISTOWN, N.J., Oct. 7, 2025 –  JLL Capital Markets announced today it has arranged $9.50 million in permanent financing for Snowball Developments' refinancing of 555 Nutmeg Road, a fully occupied 1115,800-square-foot industrial facility in South Windsor, Connecticut.

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

The property, constructed in 1980, sits strategically on 12.1 acres and 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. The facility includes 6,580 square feet of office space and provides 44 surface parking spaces, with potential to add another 92 spaces, making it ideally suited for distribution and logistics operations.

Located within the Hartford County industrial submarket, the property offers excellent connectivity to major thoroughfares, including I-84 (3.3 miles), I-91 (3.3 miles), I-291 (2.2 miles), US Route 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 enjoys access to cargo services at Bradley International Airport, which is located less than 13 miles away.

The property is 100 percent occupied by US 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.

"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."

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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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 $23.4 billion and operations in over 80 countries around the world, our more than 112,000 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 WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

Snowball Developments is aggressively pursuing investment opportunities where leasing momentum is flourishing and the supply / demand paradigm is insufficient, therefore creating high barriers of entry for quality industrial real estate in the Tri-State region. Snowball believes that location & land area trumps building functionality and pursues low coverage sites with in-place tenancy that has an outsized mark to market opportunity. Snowball plans to invest in these properties to monetize the excess land via ancillary revenue such as yard storage or parking. Snowball raised a $10.0M GP Fund in 2023/2024 and currently owns or is in contract to acquire over $200M in assets with a target AUM of $250M by end of year 2025.