West Palm Beach office property lands $16.65M refinancing

BOSTON, Apr. 25, 2023 – JLL Capital Markets announced today that it has arranged a $16.65 million refinancing for Courthouse Commons, a fully leased office building totaling 85,660 square feet in West Palm Beach, Florida.

JLL worked on behalf of the borrower, FoxRock Properties, to secure the five-year, fixed-rate loan through Rockland Trust Company, a New England-based regional bank.

Courthouse Commons is located at 444 W. Railroad Ave. in central West Palm Beach. The property is directly across from and connected via a skywalk to the West Palm Beach County Courthouse and immediately adjacent to City Hall. The central Palm Beach location also affords the property convenient access to North Dixie Highway and Interstate 95, as well as Palm Beach International Airport.

Fully leased, Courthouse Commons is home to six tenants, including the Department of Homeland Security and Granite Telecommunications. The five-story building offers a grand lobby and an attached six-story parking garage.

The JLL Capital Markets team representing FoxRock Properties was led by Senior Director Jonathan Schneider.

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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FoxRock Properties, headquartered in Braintree, MA, acquires, develops, and manages commercial real estate in the Greater Boston area. Their portfolio includes over 4.9 million square feet of commercial space with an emphasis on repositioning assets acquired at or below replacement cost in southern Massachusetts.