Wells Fargo provided $133 million in refinancing for Dolphin Commerce Center, a 37-acre industrial campus in Sweetwater near Miami-Dade County. LBA Realty, based in Irvine, California, secured the deal backed by five warehouses totaling 709,480 square feet across addresses between 11200 and 11698 Northwest 25th Street. The property sits about a mile north of Dolphin Mall, east of the Florida Turnpike, near the Everglades National Park border.
Wells Fargo increased a 2022 loan by $83 million to reach the new $133 million total, bringing a prior loan with $50 million in outstanding debt to refinancing. The warehouses, built in the late 1990s, offer clear heights between 24 and 28 feet. About 36,000 square feet of warehouse space remains available for lease.
LBA Realty purchased the campus in 2022 for $198 million. The company also owns a 37,909-square-foot warehouse in Weston that it bought in 2020 for $9 million.