Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, announced it has completed a 179,634-square-foot, long-term lease agreement with a major tenant at Bridge Point Commerce Center in Miami Gardens.
This newest lease brings Bridge Point Commerce Center Phase I, totaling 1.1 million square feet of Class-A industrial space, to 97 percent leased.
Construction has commenced on Phase II of the logistics park, which totals 1 million square feet of Class-A industrial space and is set to be delivered in early 2023.
“We are pleased to welcome another investment-grade tenant to Bridge Point Commerce Center,” said Kevin Carroll, Partner, Southeast Region for Bridge Industrial. “With Phase I essentially fully leased, we are laser focused on delivering Phase II of the project to meet strong market demand.”
Aaron Hirschl, Vice President of Bridge added, “We continue to attract institutional credit tenants to Bridge Point Commerce Center, which speaks volumes to the quality of our state-of-the-art logistics hub and its prime distribution location.”
The CBRE team of Tom O’Loughlin, SIOR, David C. Albert, Devin White and Larry Genet represented the developer, Bridge Industrial, in the transaction. The tenant was represented by JLL’s Sky Groden and Evan Christiansen.
“Finding a highly-accessible distribution location to facilitate last-mile delivery service across the tri-county region was critical for this particular tenant,” said O’Loughlin. “In the end, Bridge Point Commerce Center was the best fit. The logistics hub features modern, efficiently designed buildings with an unparalleled distribution location, and the owner was able to meet all of the tenant’s unique requirements, and more. We look forward to leasing up Phase II of this world-class project, as industrial demand continues to outpace supply across South Florida.”
Strategically located between Miami-Dade and Broward Counties on a 185-acre site at 4310 NW 215th Street, Bridge Point Commerce Center offers Florida Turnpike frontage with 155,310 cars passing per day. Phase I of the Class-A industrial park, featuring three buildings totaling 1.1 million square feet, was delivered in January and is home to CITY Furniture and HapCor, among other notable tenants. Phase II consists of two buildings spanning 794,230 square feet each, divisible to 80,000 square feet. The buildings feature 36’ clear ceiling heights, 114 dock-high doors, four drive-in doors, 50-foot by 54-foot column spacing, 60-foot speed bays, and exterior surface storage, which allows the ability to park 391 trailers total. Build-to-suit and build-to-own opportunities are also available. The park’s location is equidistant from Miami International Airport and Fort Lauderdale International Airport and offers immediate access to all points in South Florida via the Florida Turnpike and I-75.
Bridge is one of South Florida’s most active industrial real estate developers. The company has acquired approximately 500 acres in 16 separate transactions throughout Miami Dade and Broward Counties and delivered approximately 7 million square feet of Class-A industrial space across the region since entering the market in 2012. The company’s current South Florida portfolio spans more than 5 million square feet of company-owned and third-party managed properties.
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