Broward County Industrial Development Moves Forward with $33M loan

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.

CBRE’s Tom O’Loughlin, Larry Dinner and Larry Genet are the leasing agents for the project.

 

 

Source:  SFBJ