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