Regions Bank has granted a $27.1 million loan to SunCap West Palm Beach, an affiliate of SunCap Property Group to construct a distribution center for FedEx in Palm Beach County. The Charlotte-based developer paid $10.75 million last year for the 25.6 acre site located at 460 Pike Road near the Florida Turnpike. The county granted preliminary approval in late 2013 for public incentives so FedEx could occupy a 386,000 square foot regional distribution center. Suncap has built distribution facilities in both Miami, Pompano Beach as well as a dozen other cities for FedEx.
