Foundry Commercial, in partnership with Wheelock Street Capital, has broken ground on Festival Logistics Park, a 485,000-square-foot industrial campus in Pompano Beach, Florida. The team secured a $78 million construction loan originated by The Hartford Financial Services Group. Foundry Commercial purchased the 25-acre site from IMC Equity Group for $66 million in September of last year.
Located at 2900 W. Sample Road on the former Festival Flea Market site, the development will feature three Class A industrial buildings. Completion is scheduled for the fourth quarter of this year.
The existing structures on the property have been demolished, and Miller Construction Co. has been selected as the general contractor for the project.
Leasing at Festival Logistics Park will be led by Stream’s Nick Wigoda and Steve Medwin, along with Eli Havlik.
