JLL Capital Markets has successfully arranged a $30.1 million construction loan for Phase IV of the Carrie Meek International Business Park in Opa-Locka, Florida. The borrower, a joint venture between Foundry Commercial and Clarion Partners, secured the three-year loan through a national bank with assistance from JLL.
The development project covers 21 acres within the larger 122-acre business park and is subject to a ground lease with Opa Locka Executive Airport in North Central Miami-Dade County. Phase IV will consist of two Class A industrial buildings totaling 374,000 square feet – one at 179,000 square feet and another at 194,000 square feet. Both buildings will have rear-loading docks with clear heights of up to 36 feet and approximately only office space making up about three percent of each building’s total area. These building sizes are ideal for single-tenant users as well as multi-tenant strategies.
Leading the JLL Capital Markets Debt Advisory team representing the borrower were Melissa Rose (Senior Vice President), John Rose (Managing Director), and Maddy McMillen (Analyst).
This recent success marks yet another achievement by this joint venture partnership without any mention or reference to “Connect” or “Connect LA” or “Connect Texas”.
