$30 million construction loan secured for Phase IV of Carrie Meek International Business Park in North Central Miami-Dade County, FL

  

Maddy McMillen

 

MIAMI,FL –  JLL Capital Markets has arranged a $30.1 million construction loan for the development of Phase IV of Carrie Meek International Business Park (‘Meek Phase IV’), a two-building, Class A industrial project in Opa-Locka, Florida.

 

Melissa Rose

JLL worked on behalf of the borrower, a joint venture between Foundry Commercial and Clarion Partners, to secure the three-year construction loan through a national bank.

John Rose

The project sits on 21.38-acres of the 122-acre Carrie Meek International Business Park and is subject to a ground lease with the Opa Locka Executive Airport in North Central Miami-Dade County, Florida.

 

The property has easy access to major interstates, including Interstate 95, the Florida Turnpike and Interstate 35, providing connectivity throughout Southern Florida and beyond. Miami is widely considered one of the country’s strongest industrial markets due to intense land constraints and robust tenant demand.

Rendering: Development of Phase IV
of Carrie Meek International Business Park,
 a two-building, Class A industrial project
 in Opa-Locka, FL

Meek Phase IV will feature 374,000 square feet of Class A industrial product, constructed across 179,000-square-foot and 194,000-square-foot buildings – both 248-foot, deep rear-load with 36-foot clear heights and approximately 3.0% office finish. The building sizes are suited for various single-tenant users as well as highly complementary to multi-tenant strategies.

 

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Director Melissa Rose, Senior Managing Director John Rose and Associate Maddy McMillen.

 

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

CONTACT:

 

Kristen Murphy

Director, Public Relations

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

617-543-4873

 

foundrycommercial.com.

jll.com. 

 

 

 

 

 

 

$52 million in construction financing arranged for Egret Point Logistics Center in Boynton Beach, FL

 Melissa Rose

MIAMI, FL –  JLL Capital Markets has arranged $52.3 million in senior construction financing for Egret Point Logistics Center in Boynton Beach, Florida.

Egret Point Logistics Center is located at 3800 South Congress
Avenue, Boynton Beach, FL. The project will consist of
 a Class A, two-building, variable-depth
multi-tenant industrial development
totaling 457,110 square feet

JLL worked on behalf of the borrower, a joint venture between Foundry Commercial and Wheelock Street Capital, to secure the financing from First Citizens Bank.

 Egret Point Logistics Center is located at 3800 S Congress Ave. and will consist of a Class A, two-building, variable-depth multi-tenant industrial development totaling 457,110 square feet. The project site totals 30.78 acres and features direct frontage along I-95, one of the major regional transit arteries for South Florida and the Southeast region.

 

The project is located in a highly convenient location within southern Palm Beach County, allowing the property to attract tenants and service consumers from both Broward County and Miami-Dade County to the south.

Steven Klein

This location, coupled with Boynton Beach commanding rents at a discount to other South Florida markets, creates a highly competitive position for this project.

 

A former Baptist Health System clinic, the site is the latest example of the ongoing redevelopment of obsolete assets into premier industrial warehousing, leveraging the site’s unique frontage and expansive acreage to create a premier industrial development opportunity.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Senior Managing Directors Steven Klein and Melissa Rose and Associate Mateo Bolivar.

 

“The sponsors’ forward-thinking decision to redevelop an obsolete medical office building into a Class A logistics property illustrates the ongoing demand for infill industrial sites in South Florida, particularly for multitenant space,” said Rose.

 

Klein added, “It’s a privilege to work on behalf of our best-in-class sponsors to secure financing for this project. We are thankful to our lender team for their successful closing on an efficiently priced non-recourse construction loan amidst current volatility in the debt markets.”

 Mateo Bolivar

“We were pleased to work with Foundry Commercial, Wheelock Street Capital and JLL to arrange financing for this new logistics center in a prime location and a growing market,” said Juan Vives, a managing director with First Citizens Bank Commercial Real Estate.

 

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. 

Juan Vives

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 

For more news, videos and research resources, please visit JLL’s newsroom. 

 

CONTACT:

 

Kristen Murphy

Director, Public Relations

JLL

One Post Office Square, Suite 1100

Boston, MA 02109

617-543-4873

 

 

 

 

 

 

J.H. Snyder completes multi-million-dollar renovation at Class A, 530,000 SF office building in Los Angeles, CA

5757 Wilshire Boulevard, a Class A,
11-Story office building totaling
 530,000 SF in the Miracle Mile
 submarket of Los Angeles, CA

  

Lon Snyder

LOS ANGELES, CA – JLL announced that J.H. Snyder has completed a multi-million-dollar renovation at 5757 Wilshire Boulevard, a Class A, 11-Story office building totaling 530,000 square feet in the Miracle Mile submarket of Los Angeles, California.

 

Additionally, JLL secured multiple leases totaling nearly 40,000 square feet at the building since the beginning of the year.

 

As part of the renovation, J.H. Snyder constructed a new outdoor tenant lounge with seating, tables and lounges; a new building lobby with seating and lounge areas; and 15,000 square feet of office spec suites that have already been leased with an additional 20,000-30,000 square feet of office spec suites currently under construction and scheduled to be delivered between the Q3 of 2024 and Q1 2025. 

Micheal Geller

 The company is also adding two new restaurants at the campus, Parma Pizzaria and Descanso. Finally, J.H. Snyder completed the development of a 285-unit luxury apartment tower on campus, providing a live-work environment.

 “With the continued evolution of the Los Angeles office market, employers and employees want to be in an office with abundant onsite and nearby amenities, near public transportation and new housing,” said Lon Snyder, Partner & Asset Manager at J.H. Snyder.  “We are creating a more dynamic work environment which appeals to the new generation of employees and the market has been responding very well.”

Ben Silver

Leading the office leasing efforts at 5757 Wilshire Boulevard are JLL’s Micheal Geller, Greg Astor and Ben Silver. 5757 Wilshire Boulevard can accommodate a wide range of users from 1,000 square feet to 40,000 square feet. 

 

“Los Angeles’ Miracle Mile office submarket has seen significant activity from companies looking to re-establish an office presence and want high quality, move-in ready space available for immediate occupancy,” said Ben Silver, JLL Senior Vice President. 

 

 “Companies are looking for redeveloped properties with great amenities and great move-in ready space in a thriving, safe and collaborative environment that appeals to their employees.”

 

5757 Wilshire Boulevard is located in the heart of the Miracle Mile with a wide range of onsite and nearby amenities including many restaurants, Equinox, LACMA, and the Wilshire Fairfax stop of Purple Line Subway coming online soon.

 

 5757 Wilshire also has the ability to provide prominent exterior signage for select users and has the most abundant onsite parking in the area.

 

CONTACT:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

Star Developers Group Announces One Hollywood Residences, a Luxury Urban Development in Hollywood, FL

 

 One Hollywood Residences, a new condominium
 project  in Hollywood, FL that  will consist
of 248 residences reaching 23 stories.  
RENDERING courtesy Star Developers Group

 HOLLYWOOD, FL— Star Developers Group has announced One Hollywood Residences, a new urban development in Hollywood. The condominium project will consist of 248 thoughtfully designed residences reaching 23 stories.  

 

The new development will rise in the heart of downtown Hollywood, at 1817 Taylor Street, near an area currently experiencing a renaissance. This vibrant neighborhood is brimming with retail shops and diverse restaurants, offering residents a lively and dynamic lifestyle. 

Alejandro Ensinck

“One Hollywood Residences was designed to offer an upscale living experience that goes beyond just a home; it embodies a way of life,” said Alejandro Ensinck, Managing Director of Star Developers Group. “Our goal is to immerse our residents into the vibrant energy of Hollywood combining style and function in every corner."  

 

Individual residences range from 517 square feet to 1,425 square feet. They include studios to three-bedroom units with a den, and include one to three bathrooms. Unit prices start in the $400,000s dedicated kitchen.

 

BC Architects designed the building and Domus Aurea Interiors designed shared spaces. Fortune Development Sales is the exclusive sales and marketing partner.  

Edgardo Defortuna, 

“At One Hollywood Residences, the development team was able to blend the best of two worlds: luxury living with convenience," said Edgardo Defortuna, President and CEO of Fortune International Group. 

 

"With easy access to everything Hollywood has to offer, residents can enjoy the best of South Florida living right at their doorstep.”

 

 

 

 

 

CONTACT:

 

Angelic Bringas
Account Executive
abringas@boardroompr.com
C 786-202-5773
O 954-370-8999
Web | Facebook | Instagram | LinkedIn

 

OneHollywoodResidences.com

754-263-0111