JLL Arranges $30M BankUnited Loan for Grover Corlew's Hillsboro Center Office Park in Deerfield Beach
JLL has arranged $30 million in financing for Hillsboro Center, a Class A office park totaling 223,716 square feet in Deerfield Beach, Florida, the firm announced July 7, 2026.
JLL worked on behalf of the borrower, Grover Corlew, to secure the two-year senior loan with BankUnited, Inc.
Asset Overview and Renovation History
Hillsboro Center is located at 600 and 700 W. Hillsboro Blvd., just east of Interstate 95 in Deerfield Beach. The campus provides access to Fort Lauderdale to the south and Boca Raton approximately one mile to the north, and is also convenient to the Deerfield Beach Tri-Rail Station.
Grover Corlew acquired Hillsboro Center in 2019 and has since invested $10 million over three years to renovate and reposition the asset. The two buildings feature a state-of-the-art fitness center, a tenant lounge and an on-site parking garage. At its lowest point during the pandemic, the property fell to 62% leased. It now stands at 97% occupied with a tenant roster comprising 43 tenants across 15 distinct industries.
Mixed-Use Redevelopment Component
Beyond the existing office campus, Grover Corlew holds approvals to redevelop a portion of the western half of the site into Mayla Hillsboro, a 360-unit multifamily project.
JLL Team and Lender Commentary
JLL's Capital Markets Debt Advisory team was led by Senior Managing Director Paul Stasaitis and Director Paul Adams.
"Grover Corlew has renovated the property with top-level finishes, positioning it as an alternative to the record-growth market of Boca Raton," Stasaitis said. "We received strong interest in the financing given the strength of the asset, the market and the borrower."
BankUnited, Inc. served as the lender on the transaction.
Market Context: Deerfield Beach as an Employment Center
Deerfield Beach sits between Fort Lauderdale to the south and Boca Raton to the north. JLL's announcement characterized the city as having "emerged as a significant employment center," with Hillsboro Center's location offering tenants proximity to Interstate 95 and the Deerfield Beach Tri-Rail Station.
Grover Corlew is a real estate investment management group focused on acquiring, developing and managing office, multifamily and mixed-use properties across the southeastern United States, with a primary emphasis on Florida.
JLL (NYSE: JLL) is a global commercial real estate services and investment management company with annual revenue of $26.1 billion and operations in over 80 countries, according to the firm.