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Bridge Completes $80 Million Sale To Duke For 700,000 SF Of Industrial Assets

Bridge Development Partners, one of South Florida’s most active industrial real estate developers, today announced the disposition of three Class-A, industrial buildings totaling 676,835 square feet—Bridge Point Crossroads East and South located in Hialeah Gardens.

CBRE’s Capital Markets team including Chris Riley, Vice Chairman in Atlanta; Christian Lee, Vice Chairman in Miami; and José Antonio Lobón, Senior Vice President in Miami represented Bridge Development in the sale to Duke Realty Corp.

“While South Florida continues to experience an industrial boom, a limited supply of developable land presents a challenge,” said Kevin Carroll, a principal of Bridge Development Partners’ Miami office. “We’ve found success in leveraging our ability to dig into more complex land acquisitions and deliver international-class industrial product attractive to today’s tenants and institutional owners alike.”

A testament to the state-of-the-art industrial facilities Bridge Development develops, the company has completed the disposition of more than 1 million square feet of South Florida industrial properties in less than 60 days. Last month, Bridge sold two Class-A, industrial buildings totaling approximately 400,000 SF: Bridge Point Davie located in South Broward County and Bridge Point Crossroads West located in Northwest Miami Dade County. The company was also recently honored as NAIOP South Florida’s Developer of the Year.

Located at 15002 and 14802 NW 146th Street in Hialeah Gardens, Bridge Point Crossroads East consists of two Class-A industrial buildings totaling 420,989 square feet. Recently completed in the first quarter of 2017, the buildings feature a secure 180-foot shared truck court, 32-foot clear ceiling heights, 54-foot column spacing, build-to-suit offices, T–5 energy-efficient lighting, and an ESFR fire sprinkler system. Located at 10701 NW 140th Street, Bridge Point Crossroads South is a 255,846-square-foot building with the same features as Bridge Point Crossroads East except with a 120-foot non-shared, fenced truck court. The properties serve as a strategic distribution point with immediate access to US 27, Florida’s Turnpike, SR 826 and I-75, servicing both Dade and Broward counties and their respective sea and airports.

 

Source: CRE-sources