The Real Deal Miami

CPF scores $20M in financing for warehouse construction

Aircraft service firm Turbopower has already inked a lease valued at $20M in one of the buildings
October 02, 2014 01:30PM

AVE Aviation & Commerce Center

AVE Aviation & Commerce Center

CPF Investment Group has secured $20.25 million in financing for the construction of two new Class A buildings at AVE Aviation & Commerce Center, the business park located at the western edge of Opa-Locka Executive Airport.

The financing will be provided by BB&T and will pave the way for the development of two new buildings. About $9 million of that amount will be used to construct Building “EF” and $11.25 million will go toward the construction of Building “J,” Ernesto Cambo, principal of CPF, announced.

Construction on the two buildings has already begun. The 171,000-square-foot Building “J” will house Miami Lakes-based Turbopower, an aircraft engine service provider, which signed a 15-year lease agreement valued at $20 million.

“Supply for Class A warehouse and distribution space is very limited east of the Palmetto Expressway (State Road 826),” said Cambo. “Our unique location coupled with access to the airfield is a formula for a world-class business park.” –Christopher Cameron