Altman Logistics Properties and FRP Development Corp. have secured $31.9 million in construction financing for Apex Logistics Park at Signature Grand, a two-building, 182,000-square-foot logistics development planned for Davie, Florida. The site, formerly home to the Signature Grand events and catering space, will undergo demolition in preparation for vertical construction, which is expected to begin in the second half of 2025. Completion is anticipated in early 2026.
The financing was provided by Synovus, with JLL Miami’s Capital Markets team, led by Melissa Rose, Michael DiCosimo, and Val McWilliams, assisting in securing the loan. Positioned on an 11.3-acre site just south of Interstate 595 and near major transportation routes including Interstate 95, the Florida Turnpike, and the Sawgrass Expressway, the development is expected to cater to logistics and distribution tenants seeking proximity to Fort Lauderdale-Hollywood International Airport and Port Everglades.
“As South Florida’s industrial sector continues to see strong demand, securing the financing for Apex Logistics Park at Signature Grand puts us one step closer to our goal of delivering modern, well-located, and efficient logistics space to the product-constrained Southeast Broward submarket,” said Mark Levy, President of Altman Logistics Properties. “We are excited to begin construction on this state-of-the-art facility designed to meet the growing needs of businesses in the region, and we look forward to contributing to the economic growth of Davie and the broader South Florida region.”
According to JLL’s Melissa Rose, lender interest in the project was strong. “Local and regional banks have notably re-entered the spec industrial construction lending space. As a result, lender interest was robust, particularly given the strong market dynamics and stellar development team for Apex Logistics Park at Signature Grand,” she said.
Altman Logistics Properties and FRP Development Corp. have been expanding their industrial footprint across Florida. The joint venture is also planning Apex Logistics at Lakeland, a 202,000-square-foot logistics facility in the Lakeland submarket, positioned between the Tampa Bay and Orlando metro areas. Additionally, Altman Logistics Properties is developing a three-phase, 600,000-square-foot logistics facility in Delray Beach in partnership with PCCP, LLC, with the first phase expected to be completed this fall.
Apex Logistics Park at Signature Grand is part of Altman Logistics Properties’ broader strategy of acquiring and repositioning underutilized commercial properties for logistics uses. The firm has focused on transforming aging office buildings and other commercial assets into modern last-mile logistics facilities designed to meet the needs of South Florida’s growing population centers.
Subscribe to YIMBY’s daily e-mail
Follow YIMBYgram for real-time photo updates
Like YIMBY on Facebook
Follow YIMBY’s Twitter for the latest in YIMBYnews
Be the first to comment on "Construction Financing Secured for Apex Logistics Park at Signature Grand in Davie, FL"