Codina lands $54.3M of bank financing for Hialeah industrial development

The 72.2-acre Beacon Logistics Park project in Hialeah is Armando Codina's first industrial development in more than a decade

Miami /
Mar.March 10, 2018 01:00 PM

Armando Codina and the site of Beacon Logistics Park in Hialeah

Coral Gables-based Codina Partners landed $54.3 million of bank financing for its development of an industrial park on 72.2 acres in Hialeah.

Codina Partners, led by developer Armando Codina, got a $23.1 million acquisition and development loan and a $33 million revolving line of credit to fund construction from Weston-based Florida Community Bank.

The Coral Gables-based company assembled the development site at 9100 West 40th Avenue by acquiring 55 acres in 2015 for $28.3 million and the other 17.2 acres in January for $10 million.

Codina has said the planned industrial park, called Beacon Logistics Park, would have industrial buildings with as much as 1.5 million square feet of space.

Buildings that range in size from 145,000 square feet to 230,000 square feet are the centerpiece of the site plan for Beacon Logistics Park.

The development marks Codina’s return to the South Florida industrial market after more than a decade.

From the mid-1980s to 2006, Codina developed more than 20 million square feet of industrial space in the Miami area including Beacon Centre, Beacon Industrial Park and Dolphin Commerce Center. [South Florida Business Journal] – Mike Seemuth


Related Articles

arrow_forward_ios
Dacar Management's Alberto Micha-Buzali with Residences and Shoppes (LinkedIn, Dacar Management)
Dacar scores $81M loan for Publix-anchored mixed-use project in Hialeah
Dacar scores $81M loan for Publix-anchored mixed-use project in Hialeah
LBCW Investments' Clay Hamlin III with 1100 25th Street and 1426 Skees Road (Loopnet, LBCW)
Industrial play: Alliance HP trades one West Palm complex for another
Industrial play: Alliance HP trades one West Palm complex for another
Seagis' Bradlee Lord with 10900 Northwest 138th Street (Seagis Property Group, iStock)
Seagis doubles down in Medley, paying $24M for two industrial facilities
Seagis doubles down in Medley, paying $24M for two industrial facilities
 EverWest Real Estate Investors’ Rick Stone with  635 Northwest Fourth Ave (LinkedIn, Loopnet)
EverWest pays $14M for Fort Lauderdale industrial property
EverWest pays $14M for Fort Lauderdale industrial property
Renderings of the Emerald Bay Apartments project (MSA Architects)
Hialeah apartment project scores $67M construction loan
Hialeah apartment project scores $67M construction loan
Seagis Property Group's Bradlee Lord and 13399 Northwest 113th Avenue Road in Medley (Google Maps, Seagis)
Outdoor storage demand keeps on truckin’: Seagis pays $15M for trailer parking lot in Medley
Outdoor storage demand keeps on truckin’: Seagis pays $15M for trailer parking lot in Medley
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
From left: Dave Benson of Morningstar Properties; Tim Petrillo of Urban Street Development; 125 Northwest Fourth Street in Fort Lauderdale (Urban Street Development, Morningstar Properties, Google Maps)
Morningstar pays $30M for self-storage facilities in Fort Lauderdale’s Flagler Village
Morningstar pays $30M for self-storage facilities in Fort Lauderdale’s Flagler Village
arrow_forward_ios

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

Loading...