A company tied to West Palm Beach-based Ranger Construction Industries Inc. just scored a $44 million loan for a terminal amid one of the port’s most expensive expansion projects.
Property records show Port Everglades Terminal Land LLC secured the financing from BB&T Bank.
Ranger is an arm of the family-owned contracting company West Virginia-based Vecellio & Grogan. Vecellio’s previous experience includes building the Port of Palm Beach terminal in 2004, according to its website.
The mortgage covers the land at 1200 Southeast 32nd Street, on Eller Drive and on Southeast 32nd Street in Dania Beach, including Vecenergy’s new fuel terminal.
Two weeks ago, Port Everglades was granted approval by the Broward County Commission to begin a $437.5 million expansion.
That project will nearly triple its existing deepwater turn-around area, and install crane rail infrastructure for new Super Post-Panamax cranes. More specifically, it will add 1,500 feet to the port’s turn-around area that will allow for five new cargo berths and space for larger cargo ships. Moss/Kiewit, a joint venture of Moss & Associates and Kiewit Infrastructure South Co. has signed on as the managing general contractor.
Separately, last year, a nearby 11-story parking garage with about 645 spaces and 1,400 square feet of ground floor commercial space was approved by the Hollywood Planning and Development Board to serve travelers taking cruises and flights.
Last year, the port handled more than 1 million 20-foot cargo container units.
Vecellio Group could not immediately be reached for comment.