Foundry Commercial, in partnership with Wheelock Street Capital, broke ground on Festival Logistics Park, a 485,000-square-foot industrial campus in Pompano Beach, Fla. Commercial Edge reports the team inked a $78 million construction loan originated by The Hartford Financial Services Group. Foundry Commercial purchased the site from IMC Equity Group for $66 million in September last year.
The development is at 2900 W. Sample Road, on the former Festival Flea Market site. The 25-acre property will include three Class A buildings. Completion is expected in the fourth quarter of this year.
The developer demolished the existing structures on the property and tapped Miller Construction Co. as general contractor for the upcoming project.
Stream’s Nick Wigoda and Steve Medwin, together with Eli Havlik, will oversee leasing efforts at Festival Logistics Park.
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