JLL Capital Markets arranged a $30.1 million construction loan for the development of Phase IV of Carrie Meek International Business Park, a two-building, Class A industrial project in Opa-Locka, Florida.

JLL worked on behalf of the borrower, a joint venture between Foundry Commercial and Clarion Partners, to secure the three-year construction loan through a national bank.

The project sits on 21-acres of the 122-acre Carrie Meek International Business Park and is subject to a ground lease with the Opa Locka Executive Airport in North Central Miami-Dade County, Florida.

Meek Phase IV will feature 374,000 square feet of Class A industrial product, constructed across 179,000-square-foot and 194,000-square-foot buildings – both 248-foot, deep rear-load with 36-foot clear heights and approximately 3.0% office finish. The building sizes are suited for various single-tenant users as well as highly complementary to multi-tenant strategies.

The JLL Capital Markets Debt Advisory team representing the borrower was led by Melissa Rose, John Rose and Maddy McMillen.