Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, announced it has inked a 312,103-square-foot, full building lease with New-Jersey-based FreezPak, bringing its highly anticipated Bridge Point Cold Logistics Center project to full occupancy. On track for delivery in the fourth quarter of 2022, the pioneering Hialeah project represents the first, for-lease cold storage facility to be built on a speculative basis in the region.
This is the first South Florida location for the leading third-party food logistics company. Consistent with FreezPak’s other facilities, the South Florida location will offer cross docking, transportation, repacking, overseas container plug in, USDA and FDA services.
“We are thrilled to have been able to meet all of FreezPak’s unique requirements and welcome them to South Florida,” said Kevin Carroll, Partner, Southeast Region of Bridge Industrial. “Our state-of-the-art facility will allow for optimal distribution to FreezPak’s customers and help fuel its continued growth.”
Dave Aschenbrand, Vice President of Cold Storage for Bridge Industrial added, “As the nation’s food logistics industry continues to shift to accommodate today’s e-commerce-based economy, demand for modern, efficient cold storage and distribution facilities like Bridge Point Cold Logistics Center is growing. We will continue to leverage our resources and capabilities to meet demand for these niche facilities that are critical to our global supply chain infrastructure.”
“FreezPak is excited to have a presence in South Florida. We are planning to be in every major port and the Miami site helps us achieve that goal,” said Dave Saoud, Co-CEO of FreezPak. Mike Saoud, Co-CEO of FreezPak added, “Our customers will benefit from this expansion, and the port of Miami is a great site to leverage our expertise.”
Bridge Point Cold Logistics Center is a joint venture between Bridge and PGIM Real Estate, the global real estate investment and financing business of Prudential Financial, Inc. The facility features a front-load design with 50′ clear heights that maximize pallet storage efficiency; 348′ building depth, 48 dock-high doors, three grade-level truck ramps, an estimated 3% office finish, 207 car parking spaces, and 49 trailer parking stalls. The facility’s high-tech refrigeration systems provide broad temperature flexibility in all units, ranging from -10°F to +55°F, allowing the building to accommodate both freezer and cooler users. The property’s prime location just south of the Miami-Dade and Broward County line, offers easy access to Florida’s major transportation arteries including the Florida Turnpike, I-75 and State Road 826.
Bridge is one of South Florida’s most active industrial real estate developers. Since 2012, the company has acquired approximately 700 acres in 17 separate transactions across South Florida. Bridge has delivered and/or has under construction approximately 8 MSF of Class-A industrial space regionwide.
Headquartered in Carteret, NJ, FreezPak Logistics is one of the leading full-service cold and dry storage in the United States. The company operates six world-class facilities across New Jersey and Philadelphia, Pa., and is slated to open this new South Florida location next year. With more than 60 million cubic feet, FreezPak Logistics locations are strategically located near the nation’s busiest air and seaports with easy access to major highways to ensure fast and efficient distribution.
Bridge currently has over 1 million square feet of Class-A cold storage product in the development pipeline across its core industrial supply-constrained markets nationwide. Bridge Cold is a specialized division of Bridge Industrial that focuses on the development and acquisition of modern, efficient cold storage warehouses and distribution facilities designed to meet the unique requirements of today’s essential businesses that store and distribute perishable goods.
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