Seagis Property Group is moving forward with a warehouse project in Hollywood, not far from Fort Lauderdale/Hollywood International Airport, thanks to a $33 million construction loan.
Webster Bank provided the mortgage to SPG 1700 Eller Dr LLC, care of Conshohocken, Pennsylvania-based Seagis Property Group. It covers the 10-acre site at 1700 Eller Drive.
Seagis purchased the property for $29.5 million. It previously had an Alamo Rent a Car facility. However, the car rental building was demolished and Hollywood approved the site for a nearly 200,000-square-foot warehouse/distribution center 44 feet in height.
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