Developer lands $34.3M loan to build speculative logistics facility in Lakeland

Developer lands $34.3M loan to build speculative logistics facility in Lakeland

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PCCP LLC and Blue Steel Development have established a joint venture to acquire a 154-acre site in Lakeland, Fla., on which the partners will develop a 1.4 million-square-foot industrial park. PCCP and Blue Steel aren’t waiting for a big lease commitment to move forward with the Class A project, called Key Logistics Center, but are building.

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Dekel Capital Arranges $34.3M Construction Loan on Spec Logistics Facility in Lakeland, FL December 19, 2018 – Real estate merchant banking firm Dekel Capital, on behalf of Texas-based industrial developer Xebec, has arranged $34.3 million in construction financing for a speculative 537,000-square-foot.

Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes x No ¨.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. R Yes o No Indicate by check mark if the registrant is not required to file.

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The segment crashed in the financial crisis that began in 2008, forcing banks to write off billions of dollars in loans. But it’s roared back since, and last year national commercial real estate.

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The developer also plans to build a town center and a clubhouse with roughly 6,000 square feet of space. Lakeland’s Odyssey (II) DP I LLC purchased the 27,575-square-foot, four-building retail and office development bloomingdale Commons in Brandon from Barclay Group for $8.3 million or $301 per square foot.

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Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. R Yes o No Indicate by check mark if the registrant is not required to file.

Brennan Investment Group named its industrial development CenterState Logistics Park and will build it in two phases, initially 720,000 square feet, then another 480,000 square feet upon the completion of phase-one leasing. "The Florida industrial markets are resurgent with strong tenant demand," Krueger said.

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