MIAMI—The developer of the AVE Aviation and CommerceCenter here has secured more than $20 million in financingfor the construction of two Class A industrial buildings at thecomplex, one of which will be the new home for aircraft enginerepair company Turbopower.
The financing is being provided by BB&T and was originatedby the Miami office of Grandbridge Real EstateCapital. The funding will finance the development oftwo new buildings with approximately $9 million being allocated toconstruct Building “EF” and about $11.25 million for theconstruction of Building “J,” according to CPF InvestmentGroup, the developer of the master-planned, mixed-usebusiness park located at the western edge of Opa-Locka ExecutiveAirport. Grandbridge Real Estate Capital Senior Vice PresidentPhil Carroll originated the transactions.
Building pad construction for the two buildings has alreadybegun. The 171,000--square-foot Building “J” will be the futurehome of Miami Lakes-based Turbopower, which signed a 15-year leaseagreement valued at $20 million.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
