A company tied to Invicta Watch Group’s president and chief executive Eyal Lalo just bought land in Hollywood and scored construction financing to build a planned industrial facility, property records show.
The 6.4-acre site at 3080 Sheridan Street traded for $7.5 million, or about $27 per square foot. It sits near the Sheridan Street Tri-Rail Station and I-95. City National Bank is providing the $7.5 million loan.
The seller, 3080 Sheridan Partnership, is led by Jocelyn Vinet and Graitien Prolux. In 2016, the company submitted a site plan to build a 97,000-square-foot facility, with about 9,400 square feet of office space. The seller paid $3.75 million for the site in 2014.
The watch brand, founded in Switzerland and based in Hollywood, Florida, has more than 30 collections, according to its website. Brand names under its umbrella include Invicta, TechnoMarine, S. Coifman and Glycine. More recently, the company partnered with former American football defensive end and outside linebacker Jason Paul Taylor of the Miami Dolphins.
A wave of new projects are in the pipeline in Hollywood. Ram Realty Services and Pinnacle Housing Group recently sold a nearby apartment complex they developed for $90.3 million.