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Bridge Development Sells Off Second Industrial Property

The second half of Bridge Development Partners’ big industrial transaction with TA Realty has closed: the $31.65 million sale of Bridge Point Crossroads West in Hialeah Gardens.

Bridge HG Two LLC, a subsidiary of Chicago-based Bridge Development, sold the 243,300-square-foot industrial building at 10901 N.W. 46th Street to FHF I Crossroads West Davie LLC, an affiliate of Boston-based TA Realty. The price equated to $130 per square foot.

Thanks to the efforts of Wayne Ramoski and Gian Rodriguez of Cushman & Wakefield, the building is nearly 90 percent leased after opening in the third quarter of 2016.

Tenants include Ace Transport and Pas Cargo.

CBRE’s Chris Riley, Christian Lee, and José Antonio Lobón represented Bridge Development in the deal. The transaction represents the second part of a $54 million transaction – the team also represented Bridge Development in its recent $22 million sale of Bridge Point Davie to TA Realty.

 

Source:  Bridge Development Partners

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