Flagler Station owner gets $75M loan

Miami /
Jun.June 05, 2014 10:30 AM

Companies tied to Flagler Global Logistics obtained a $75 million loan secured by more than 136 acres at the Flagler Station business park, The Real Deal has learned.

Wells Fargo Bank N.A. provided 14 Flagler-managed companies with the financing in a transaction recorded on Wednesday, according to Miami-Dade County records. Six properties at South Florida’s largest business park were used as collateral. The largest parcel involved totals nearly 4.3 million square feet at Northwest 106th Street and Florida’s Turnpike in unincorporated Miami-Dade County.

Flagler Global announced the beginning of the third phase of Flagler Station’s construction last month. The latest phase is expected to bring another 1.7 million square feet of new industrial space to 98 acres at the park. Once completed, the Class A warehouse and distribution space will be available for sale or lease.

The company is close to finishing construction of the 269,918-square-foot Building 32 and 251,720-square-foot Building 34 at Flagler Station. The buildings are part of the park’s second phase and are preleased at 80 and 87 percent, respectively.


Related Articles

arrow_forward_ios
Fourth Avenue Church of God (Google Maps)
Church near Flagler Village to be redeveloped into mixed-use project
Church near Flagler Village to be redeveloped into mixed-use project
4238-4276 Northwest 7th Street in Miami, Avison Young’s Michael Fay, John Crotty, David Duckworth, Brian de la Fé, Emily Brais and Berkley Bloodworth
Mixed-use Le Jeune Road dev site heads to market for $17M
Mixed-use Le Jeune Road dev site heads to market for $17M
Vlad Doronin, Len Blavatnik, and 3425 Collins Avenue (Credit: Google Maps, Gesi Schilling, and Mark Neyman / GPO)
Developer of Aman-branded towers in Miami Beach scores $35M loan
Developer of Aman-branded towers in Miami Beach scores $35M loan
Rendering of 57 Ocean and Marcelo Kingston (Credit: DBOX)
57 Ocean in Miami Beach scores $59M construction loan
57 Ocean in Miami Beach scores $59M construction loan
JPMorgan Chase CEO Jamie Dimon (Credit: Win McNamee/Getty Images, Google Maps, iStock)
JPMorgan Chase buys own branch in West Palm
JPMorgan Chase buys own branch in West Palm
Native Realty’s Jaime Sturgis and the property
Flagler Village assemblage hits market for $8M
Flagler Village assemblage hits market for $8M
South Florida lenders and landlords battle new coronavirus reality
South Florida lenders and landlords battle new coronavirus reality
South Florida lenders and landlords battle new coronavirus reality
Renderings of the project with Yair Levy
Diamond in the rough? Downtown Miami Metro Mall to get $35M makeover
Diamond in the rough? Downtown Miami Metro Mall to get $35M makeover
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...