Changes Coming to Davie: Signature Grand to Make Way for New Logistics Park

Apex Logistics Park Development

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News Summary

Davie, Florida, is set to witness significant changes as the iconic Signature Grand event venue is scheduled for demolition. The venue, beloved since 1996, will be replaced by Apex Logistics Park, spearheaded by Altman Logistics Properties, covering 11.3 acres at State Road 84. A $31.9 million construction loan has been secured to facilitate this project, which aims to enhance the local industrial landscape. Construction is set to begin in the second half of 2024, marking a new chapter for the area while bidding farewell to the memorable history of Signature Grand.

Changes Coming to Davie: Signature Grand to Make Way for New Logistics Park

Davie, Florida, is gearing up for some significant changes as the iconic Signature Grand event venue, a beloved place since 1996, is slated for demolition. This cherished venue has been a prominent fixture in the community, hosting memorable weddings, corporate events, and gatherings for over two decades. However, with its closure back in February 2024, the time has come for new developments to take the stage.

Apex Logistics Park Takes the Stage

Replacing the Signature Grand will be a sprawling logistics park known as Apex Logistics Park. The new development is being spearheaded by Altman Logistics Properties and the FRP Development Corp. This ambitious project is set to cover an area of 11.3 acres, located at 6900 State Road 84, just south of Interstate-595. The addition of such a facility is anticipated to greatly enhance the industrial landscape of Davie, creating a hub that meets the growing demand for logistics spaces.

Financial Backing for the New Development

To put this plan into action, BBX Capital, the parent company of Altman Logistics Properties, has successfully secured a hefty $31.9 million construction loan from Synovus. This funding will not only assist in demolishing the former event venue but also facilitate the construction of the new logistics park. Earlier this year, the site was sold to the developers for $24.5 million, marking the beginning of a new chapter for this location.

Planning and Construction Timeline

The structure of the Apex Logistics Park will include two industrial buildings totaling a significant 182,000 square feet. So, when can locals expect to see movement on this project? Construction is set to kick off in the second half of 2024, with a planned completion date stretching to early 2026. This timeline signals a robust commitment to seeing the project through and meeting the needs of the area.

A Fond Farewell to Signature Grand

For many, the closure of Signature Grand marks the end of an era. Over its operational years, the venue proudly hosted more than 12,000 weddings and welcomed over 2 million guests. The venue was not just a place for celebrations but also recognized for its contributions to local non-profits and significant events that captured the attention of notable political figures.

The Legacy of Signature Grand

It is crucial to remember the historical significance of Signature Grand, which includes its ups and downs, including a tragic incident in 2003 that left many in the community shaken. While the memories of its glorious events will linger, the transition to the new logistics park aims to cater to the evolving needs of the area.

Looking Ahead: The Future of Logistics in South Florida

The South Florida market has undoubtedly experienced a surge in demand for industrial spaces, particularly during the pandemic. However, some recent challenges in leasing activity are raising eyebrows. Still, there is a prevailing sense of optimism among developers about the future of logistics space in Davie and the surrounding areas.

Community Input and Development Goals

The developers behind Apex Logistics Park are dedicated to ensuring that the project aligns with community expectations and needs. They plan to implement state-of-the-art logistics facilities that will help balance the demands of growth while being mindful of the community’s sentiments. With expert assistance from financing specialists, including Melissa Rose, Michael DiCosimo, and Val McWilliams of JLL, the groundwork is set for a promising future.

As Davie shifts its focus from Signature Grand to the vibrant potential of Apex Logistics Park, it remains to be seen how this transition will shape the community. But one thing’s for sure—new beginnings are on the horizon, and the stage is being set for a future filled with possibilities.