Wells Fargo Supplies $133M Refi for Miami-Dade Industrial Campus

LBA Realty has secured refinancing for an industrial campus near the edge of Miami-Dade County, property records show. 

Wells Fargo provided the $133 million financing backing the 37-acre Dolphin Commerce Center. The bank increased by $83 million a 2022 loan with $50 million of outstanding debt, according to mortgage documents. 

The 709,480-square-foot property features five warehouses between 11200 and 11698 Northwest 25th Street in Sweetwater, about a mile north of the Dolphin Mall, east of the Florida Turnpike, near the border with the Everglades National Park.

Constructed in the late 1990s, the property features clear heights ranging between 24 and 28 feet. About 36,000 square feet of warehouse space remains available, according to a listing on LBA Realty’s website. 

In 2022, the Irvine, Calif.-based owner bought the campus for $198 million. The firm owns one other industrial property in South Florida, a 37,909-square-foot warehouse in Weston, which it purchased for $9 million in 2020. 

A representative for LBA Realty did not immediately respond to a request for comment. 

Julia Echikson can be reached at jechikson@commercialobserver.com.