Wells Fargo Provides $133M Refinancing for Sweetwater Industrial Campus

LBA Realty has secured refinancing for Dolphin Commerce Center, a 37-acre industrial campus in Sweetwater near the edge of Miami-Dade County, according to property records. Wells Fargo supplied the $133 million loan.

Mortgage documents show the new loan increased a 2022 financing by $83 million, on top of roughly $50 million of debt still outstanding on that earlier loan. The property spans 709,480 square feet across five warehouses built in the late 1990s, with clear heights of 24 to 28 feet.

The campus sits along Northwest 25th Street, roughly a mile north of Dolphin Mall and east of the Florida Turnpike, close to Everglades National Park. About 36,000 square feet of warehouse space is still listed as available. LBA Realty, based in Irvine, California, bought the campus in 2022 for $198 million. The firm also owns a 37,909-square-foot warehouse in Weston, bought for $9 million in 2020. The company did not immediately comment.

For developers and lenders, the deal shows continued capital availability for older, well-located South Florida industrial assets, with refinancing structured around existing debt and vacancy.