Berkadia Arranges $15.56M Refinancing Of Industrial Asset In Pompano Beach

Berkadia has secured a $15.566 million loan to refinance 1698 N Andrews, a newly built 85,187-square-foot industrial property located in Pompano Beach.

Vice President Bobby Dockerty of Berkadia Miami led the financing on behalf of the sponsor, Butters Group of Coconut Creek, Florida & Woodmont Properties of Fairfield, NJ with additional support from Berkadia Senior Managing Director Mitch Sinberg, and Managing Directors Scott Wadler, Brad Williamson, Matthew Robbins.

SouthState Bank provided the financing, the proceeds of which refinanced the property’s existing construction loan.

“Industrial fundamentals across Broward County continue to support strong lender demand for newly delivered, well-located assets with durable tenancy,” said Dockerty. “1698 N Andrews checked all the boxes lenders are prioritizing today: modern construction, long-term leases, functional design, and exceptional connectivity throughout South Florida.” 

 

“Compared to neighboring South Florida markets, Broward County continues to demonstrate particularly strong industrial fundamentals, driven by constrained supply, healthy absorption, and sustained tenant demand for well-located infill product,” said Evan Butters of Butters Group.  

Located at 1698 N Andrews Avenue, the fully-sprinklered property features 32-foot clear heights, tilt-wall concrete construction, 16 dock-high loading doors, two oversized drive-in ramps, a 120-foot truck court with 60-foot concrete apron, hurricane-rated windows, and 75 parking spaces.

The property is currently 100% occupied by two tenants. Crown Linen, a leading commercial laundry provider serving more than 160 hotels across Florida and Atlanta, occupies approximately 50,000 square feet. Cleva Technologies, which designs next-generation cooling and wireless technology solutions for the retail, entertainment, and hospitality industries, occupies nearly 35,000 square feet.

The property was completed in 2026 and sits on 6.1 acres in the heart of Central Broward County’s infill industrial corridor. 1698 N Andrews is strategically positioned approximately 1.5 miles from Interstate 95, 2.5 miles from the Florida Turnpike, 3 miles from Pompano Beach Airtrack, and close to Fort Lauderdale-Hollywood International Airport, Port Everglades, and the Port of Miami.