An affiliate of Easton Group broke ground on a warehouse near the Port of Palm Beach in Riviera Beach after obtaining a $12.13 million construction loan.
Rosemont, Illinois-based Village Bank & Trust provided the mortgage to SFG ISF Riviera MLK LLC, a partnership between Doral-based Easton Group and Atlanta-based Stonemont Financial Group. It covers the 8.9-acre site at 1463 Dr. Martin Luther King Jr. Blvd.
Davie-based Excel Construction of Florida recently filed notice with the county that it started work on the stie. The warehouse will total 34,500 square feet, including 3,000 square feet for office space.
The developer purchased the site for $6.5 million in 2021.