Bridge Point Cold Logistics Center Fetches $113 Million

Spanish billionaire Amancio Ortega is expanding his family’s industrial development venture with the purchase of a cold-storage facility in Hialeah located at 3995 W 108th Street.

Boxer US Inc., managed by Patricia Alonso Gonzalez of Ponte Gadea, paid $113 million to H-21 Cold LLC, a partnership between Chicago-based Bridge Industrial and Newark, New Jersey-based PGIM Real Estate  for Bridge Point Cold Logistics Center. The sale equates to $362 per square foot.

The 312,103-square-foot facility is leased to food logistics company FreezPak.

“The successful disposition of Bridge Point Cold Logistics Center marks a significant milestone for this partnership,” stated Kevin Carroll, partner in the southeast region of Bridge Industrial. “This project underscores our commitment to developing premier cold storage facilities that meet the evolving needs of the market. As we continue to expand our portfolio, we remain focused on delivering high-quality, strategically located industrial real estate assets that cater to the dynamic demands of modern supply chains.”

This is said to be one of the most advanced refrigerated warehouses in South Florida,with the capability to store goods at 55 to negative-10 degrees.

The partnership completed the property last year after securing a $67 million construction loan from MetLife in 2020.