Phillips of Largo arranges $6.15 million const. financing

Jack Phillips, managing director of the Largo Group of Companies arranged $6.15 million in financing for the construction of a 30,000 s/f single-story office building. The tenant, U.S. Customs and Border Protection, will occupy 100% of the space on a lease that will commence when the building is ready for occupancy. Construction of this project will also include a covered parking facility that will feature a vehicle wash station. The parking facility is currently designed to accommodate 23 vehicles. Phillips secured a 10-year fixed rate loan with a 25-year amortization schedule.