A joint venture between Foundry Commercial and Clarion Partners secured a $30.1 million construction loan for the development of Phase IV of Carrie Meek International Business Park (Meek Phase IV), a two-building, class A industrial project in Opa-Locka, Fla.
JLL worked on behalf of the borrower to secure the three-year construction loan through a national bank.
The project sits on 21.38 acres of the 122-acre Carrie Meek International Business Park and is subject to a ground lease with the Opa Locka Executive Airport in North Central Miami-Dade County, Fla. The property has easy access to major interstates, including Interstate 95, the Florida Turnpike and Interstate 35, providing connectivity throughout Southern Florida and beyond.
Meek Phase IV will feature 374,000 square feet of class A industrial product, constructed across 179,000-square-foot and 194,000-square-foot buildings — both 248-foot, deep rear-load with 36-foot clear heights and approximately 3 p
