Homestead-Miami Speedway sells industrial site to Dallas developer

Homestead board approved plans for a distribution facility in September

Miami /
Jan.January 14, 2021 11:30 AM
Al Garcia and Homestead-Miami Speedway (Getty, iStock)

Al Garcia and Homestead-Miami Speedway (Getty, iStock)

Homestead-Miami Speedway sold a development site to a Dallas-based developer for $7.4 million.

Records show Homestead-Miami Speedway LLC, led by President Albert Garcia, sold the Homestead property to Homestead 145 BLDG 1 LLC, a Delaware corporation that links to the Dallas-based developer Hillwood.

Cadence Bank provided a $43.5 million loan for the 50-acre plot on the corner of Southwest 344th Street and Southwest 142nd Avenue. M. Thomas Mason, the executive vice president and chief financial officer of Hillwood, signed the mortgage.

In September, Homestead’s Planning & Zoning Board approved plans for a 145,000-square-foot distribution facility. Hillwood has developed Amazon warehouses in the past.

Founded in 1988, Hillwood has developed industrial, office, residential and retail space all over the country.

In July, Amazon secured approval to construct an $80 million distribution facility, what could be its largest in South Florida.





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