Florida East Coast Industries broke ground on a pair of warehouses in Countyline Corporate Park in Hialeah after obtaining a $20 million construction loan.
Wells Fargo Bank awarded the mortgage to Countyline Building 24 LLC and Countyline Building 25 LLC, both affiliates of Miami-based FECI. The buildings will be constructed at 4071 and 4021 W. 108th St. They will each total 136,795 square feet.
General contractor Rycon Construction recently filed notice that it started work on the project with Miami-Dade County.
Space in the buildings can be leased in segments as small as 10,000 square feet. They will each have 32-foot ceiling height. The asking lease rate is $7.74 per square foot, according to FECI’s website.
FECI sold a pair of warehouses at Countyline Corporate Park in July for a combined $61 million. That indicates strong demand for industrial space in Miami-Dade County, even during the Covid-19 pandemic. The shift of purchasing to online has boosted many e-commerce tenants that need warehouses.
At least four additional warehouses are proposed at Countyline Corporate Park.