A joint venture between Wheelock Street Capital and Foundry Commercial announced that it secured $52.3 million in senior construction financing for Egret Point Logistics Center in Boynton Beach, Fla.
JLL worked on behalf of the borrower to secure the financing from First Citizens Bank.
Egret Point Logistics Center is located at 3800 S. Congress Ave. and will consist of a class A, two-building, variable-depth multitenant industrial development totaling 457,110 square feet. The project site totals 30.78 acres and features direct frontage along Interstate 95, one of the major regional transit arteries for South Florida and the Southeast region.
The project is located in a convenient location within southern Palm Beach County, allowing the property to attract tenants and service consumers from both Broward County and Miami-Dade County to the south. This location, coupled with Boynton Beach commanding rents at a discount to other South Florida markets, creates a high
