FECI scores construction loan for Hialeah business park

FECI secured $20M in construction financing in September for other buildings in Countyline Corporate Park

Miami /
Jan.January 04, 2021 05:30 PM
Kolleen OP Cobb and Countyline Corporate Park Building 26 (FECI)

Kolleen OP Cobb and Countyline Corporate Park Building 26 (FECI)

An affiliate of Florida East Coast Industries scored more construction financing for the third phase of its Hialeah business park.

FECI landed a $17 million loan from Wells Fargo Bank for building 26 in Countyline Corporate Park, according to records.

The company previously secured a $20 million loan from Wells Fargo in September to build other warehouses inside the park west of I-75.

These other buildings are already leased, according to marketing materials. Records show Valentini Italian Specialties Co. and Vanguard Logistics USA have leased space in building 25. The asking rent for building 26 is $7.74 triple net.

Coral Gables-based FECI is the parent of train service Brightline; Flagler Global Logistics, a logistics company; and Flagler, a commercial real estate company. FECI is part of Fortress Investment Group, which is owned by Japan’s SoftBank Group.

In December, FECI sold the apartment tower next to Brightline’s West Palm Beach station for $114.8 million.

In 2019, a Preferred Freezer Services warehouse in Countyline Corporate Park secured a $48 million construction loan. That year, Duke Realty paid FECI $34.4 million for a warehouse in the park.

Among other planned industrial projects in Hialeah, a joint venture is developing a speculative cold storage project, which scored a $67 million construction loan last year.






    Related Articles

    arrow_forward_ios
    Edward Easton and rendering of Doral warehouse at 1500 Northwest 97th Avenue
    Easton Group scores $12M construction financing for Doral spec warehouse
    Easton Group scores $12M construction financing for Doral spec warehouse
    Alliance HP founders Richard Previdi and Clay Hamlin III with 7233 Seacrest Boulevard, Lake Worth (Alliance)
    Alliance spends $17M on Lake Worth industrial property
    Alliance spends $17M on Lake Worth industrial property
    3690 Northwest 62nd Street, Hialeah
    Grocery wholesaler buys Hialeah warehouse for record $12M
    Grocery wholesaler buys Hialeah warehouse for record $12M
    Yair Levy and a rendering of the project
    Downtown Miami jewelry center scores construction loan
    Downtown Miami jewelry center scores construction loan
    David Martin with a rendering of Natura Gardens
    Terra sells piece of northwest Miami-Dade dev site to Butters and Greystar, moves forward with apartment project
    Terra sells piece of northwest Miami-Dade dev site to Butters and Greystar, moves forward with apartment project
    The lot of space at Pompano Beach. (Broward County)
    Owner of Pompano industrial park to triple warehouse space to 100K sf
    Owner of Pompano industrial park to triple warehouse space to 100K sf
    USpharma CEO Dr. Manesh Dixit, Ivy Realty Co-CEOs Russell Warren and Anthony Ditommaso and 13900 Northwest 57th Court in Miami Lakes (Photos via First Time; Ivy Realty; Google Maps)
    Ivy Realty pays $18M for Miami Lakes industrial building
    Ivy Realty pays $18M for Miami Lakes industrial building
    2195 Northwest 103rd Street (Google Maps, iStock)
    Four South Florida gas stations sell for $15M
    Four South Florida gas stations sell for $15M
    arrow_forward_ios

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

    Loading...