Florida Construction News staff writer
Altman Logistics Properties has announced that it has secured a $31.9 million construction loan to build the Apex Logistics Park at Signature Grand, a 182,000-sq. ft. Class A logistics facility in Davie. The 11.3-acre site was formerly occupied by the Signature Grand event space, which will be demolished in the coming weeks to make way for the new industrial facility.
Construction is expected to start in the second half of 2025, with substantial completion planned for early 2026. The financing for the project is being provided by Synovus, and the JLL Capital Markets team in Miami assisted in securing the loan.
Located just south of Interstate-595, the site will include two buildings and is designed to meet the increasing demand for industrial space in the Southeast Broward submarket. The project is part of a broader strategy by the joint venture to expand industrial development in high-demand areas of South Florida.
“We are excited to begin the next phase of this development and bring much-needed logistics space to the region,” said Mark Levy, President of Altman Logistics Properties. “With continued demand for industrial space in South Florida, this facility will serve the growing needs of the market and contribute to the area’s economic growth.”
This financing marks another milestone for the joint venture, following their recent success in securing $16 million for a separate industrial project in Central Florida.
Apex Logistics Park is expected to be the first of several industrial projects in South Florida for Altman Logistics Properties and FRP Development Corp. The two companies are also planning a 202,000-square-foot logistics development in Lakeland, Florida, and a 600,000-square-foot facility in Delray Beach, Florida, which is currently under development.
