BBX Logistics Properties and FRP Development Corp unveiled the successful acquisition of the Signature Grand in Davie. The joint venture intends to redevelop the 11.3-acre site into The Park at Davie, which will consist of two buildings and approximately 182,000 square feet of logistics space.
“We are excited to partner with FRP Development Corp on another joint venture,” Seth Wise says, Chairman of BBX Logistics Properties, a subsidiary of BBX Capital Real Estate. “The Park at Davie is planned to provide modern logistics solutions that address the increasing needs of the market and Fort Lauderdale-Hollywood International Airport and Port Everglades. We look forward to contributing to the economic growth of Davie and the broader South Florida region.”
The site’s strategic location, just south of State Road 84 between University Drive and Davie Road, offers excellent visibility and easy access to major transportation routes, including Florida Turnpike, I-595, I-95 and I-75. Its proximity to the Fort Lauderdale-Hollywood International Airport and Port Everglades, along with its strategic position in relation to Miami and Palm Beach, positions the park to become a central hub for logistics operations in South Florida, including last-mile direct-to-consumer distribution.
“The acquisition of the Davie property is the culmination of an outstanding effort by our team to identify infill sites that are positioned to support best-in-class logistics properties,” Mark Levy says, President of BBX Logistics Properties. “Supply for modern logistics space is very limited, and we believe that space such as this is needed to serve regional consumer demand for speedier delivery. We are excited to work with the Town of Davie to bring this facility to fruition.”
Construction is set to begin in the fourth quarter of 2024, with an estimated completion date in 2025.
“We are thrilled to again partner with BBX Logistics Properties in the development of this Class A industrial property and expand our assets in Florida,” David deVilliers says, III, Executive Vice President of FRP Development Corp, a full-service real estate investment and development company based in Jacksonville. “This venture underscores our shared commitment to economic growth and supply chain excellence in the region. Together, we look forward to delivering a world-class facility that is planned to serve as a cornerstone for logistics excellence in South Florida.”
Along with The Park at Davie, BBX Logistics Properties and FRP recently revealed a new collaboration to establish The Park at Lakeland. This development is anticipated to comprise about 213,500 square feet of logistics space spread across 22.5 acres in Lakeland.
Rendering courtesy of BBX Logistics Properties
