News Summary
Florida welcomes the Apex Logistics Park at Signature Grand, backed by $31.9 million in financing. Developed by Altman and FRP Development Corp, this project will feature 182,000 square feet of Class A logistics space in Davie. Construction starts soon with a projected completion in early 2026. The strategically located facility offers enhanced access to key transport hubs, supporting regional logistics needs.
Florida has officially welcomed a new logistics development with the announcement of the Apex Logistics Park at Signature Grand. This significant undertaking is backed by $31.9 million in construction debt financing, recently secured by Altman, a prominent real estate development company.
The financing was provided by Synovus and marks a pivotal step in the project’s progression. The Apex Logistics Park represents a joint venture between Altman Logistics Properties and FRP Development Corp. Once completed, the park will feature approximately 182,000 square feet of Class A logistics space divided across two distinct buildings.
Located in Davie, Florida, the logistics development will replace the former Signature Grand event hall. Preparations for the new construction site will commence with the demolition of the existing hall in the coming days. The vertical construction phase is projected to start in the second half of 2025, with plans for substantial project completion set for early 2026.
The JLL Miami Capital Markets team played a crucial role in securing the financing for this project, with the initiative led by team members including Melissa Rose, Michael DiCosimo, and Val McWilliams. Recent trends have shown that local and regional banks are returning to the speculative industrial construction lending market, driven by an uptick in lender interest attributed to strong market dynamics.
Strategically positioned just south of Interstate-595, the Apex Logistics Park benefits from proximity to major transportation arteries, including Interstate 95, the Florida Turnpike, and the Sawgrass Expressway. This advantageous location provides tenants with direct access to vital transport hubs such as Fort Lauderdale-Hollywood International Airport and Port Everglades, enhancing logistical capabilities and distribution efficiency.
Altman Logistics Properties is not only focused on the Apex project but has additional plans for expansion within the region. The firm is developing another facility named Apex Logistics at Lakeland, which will encompass approximately 202,000 square feet of logistics space in Lakeland, Florida. Furthermore, they are also progressing on a significant three-phase project in Delray Beach, comprising a 600,000-square-foot logistics facility, with the first phase anticipated to be completed by fall 2025.
This initiative demonstrates Altman’s commitment to developing distribution centers strategically located near urban areas, specifically in supply-constrained submarkets experiencing robust population growth. The Apex Logistics Park at Signature Grand is expected to play a vital role in bolstering the logistics landscape in South Florida, responding to the rising demand for efficient distribution and supply chain solutions.
With construction activities on the horizon and a focus on fostering business growth through enhanced logistic capabilities, the Apex Logistics Park stands as a significant development in the South Florida area.
Deeper Dive: News & Info About This Topic
- AJOT: Altman Joint Venture Gets $31.9M Loan for South Florida Logistics Park
- ConnectCRE: East Capital Acquires 372K SF Miami Industrial Park
- JLL: JLL Arranges Sale of Recently Constructed Distribution Center in Orlando MSA
- Bisnow: This Week’s South Florida Deal Sheet
- Wikipedia: Logistics
Author: STAFF HERE PETERSBURG WRITER
ST PETERSBURG STAFF WRITER The ST PETERSBURG STAFF WRITER represents the experienced team at HEREStPetersburg.com, your go-to source for actionable local news and information in St Petersburg, Pinellas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as Grand Prix of St. Petersburg, Localtopia, and SHINE Mural Festival. Our coverage extends to key organizations like the St. Petersburg Area Chamber of Commerce and St. Pete Downtown Partnership, plus leading businesses in finance, manufacturing, and healthcare that power the local economy such as Raymond James Financial, Jabil, and Bayfront Health St. Petersburg. As part of the broader HERE network, including HEREJacksonville.com, HEREOrlando.com, HERETallahassee.com, and HERETampa.com, we provide comprehensive, credible insights into Florida's dynamic landscape.
