CPF Investment Group, developer of AVE Aviation & Commerce Center, recently secured $20.25 million in financing for the construction of two new Class-A buildings at the business park, which is situated just north of the Gratigny Parkway.
The financing, provided by BB&T, will pave the way for the development of both Building EF and Building J. Building pad construction for the two industrial buildings has already begun. The 171,000-square-foot Building J will be the future home of Miami Lakes-based Turbopower, an aircraft engine service provider, which signed a 15-year lease agreement valued at $20 million.
Ernesto Cambo, principal of CPF Investment Group, also announced $2.7 million in lease agreements with new tenants Cura Resource Group, SICE and Day USA Inc., and the renewal of ArjoHuntleigh.
The terms of the transactions were not disclosed.
Convenient sales solutions firm Cura Resource Group, a distributor for Herbalife Supplement products, will occupy 6,300 square feet of office, warehouse and distribution space, while SICE, an integration technology company for system transport and environmental control, has leased 12,700 square feet of office and warehouse facilities. In addition, Latin American automotive parts distributor Day USA will occupy 12,786 square feet that will feature office, warehouse and storage.
Located in AVE Building N at 14350 N.W. 56th Court, the new tenants will have access to such amenities as three dock-height bays, 24-foot warehouse ceiling heights, front-office rear loading warehouse space, ESFR Sprinkler Systems, a 200-foot shared truck court, a 50-foot concrete apron, a 1.9/1,000 parking ratio and roving security.
“These new industrial leases continue to demonstrate the market’s need for high-quality, Class-A distribution space east of the Palmetto Expressway,” said Cambo. “AVE’s prime warehouse space and location near the airport and major highways are what attract tenants to the business park, and we expect activity to remain strong as we continue to expand.”
Global medical technology company ArjoHuntleigh, specializing in medical equipment and patient handling of medical beds, hygiene and therapeutic services, has renewed its 12,420-square-foot lease at Building N, which is inclusive of office and warehouse space, and houses distribution and repair operations.