The Park consists of approximately 530,000 square feet of small and midsize dock height and street level office / warehouse bays situated on approximately 30 acres of land within a designated Foreign Trade Zone and is comprised of one of the most diverse mixtures and configurations of warehouse units of any industrial park in Broward County.
The site includes two existing industrial buildings totaling 14,605 square feet, leaving plenty of room for future office or industrial development. Its proximity to I-595, Fort Lauderdale International Airport and Port Everglades make the site highly desirable for commercial users.
Several substantial leases have been signed recently totaling more than 130,000 square feet.
The Buyer, Pelican Bays LLC, also appointed Levy Realty Advisors exclusivity to manage and lease the property, which is currently occupied by approximately 120 tenants.
Native Realty’s Jaime Sturgis represented both sides of the $17.5 million sale.
Senior Managing Director Sal Bonsignore and Executive Managing Director Rod Loschiavo of Colliers South Florida, represented the seller in the transaction with First Industrial Realty Trust.
Bridge will transform the site into Bridge Point Port Everglades, a modern new 170,892-square-foot logistics facility that will cater to today’s logistics users. Bridge plans to deliver the building in early 2024.
Senior Vice President Keith Graves, CCIM, Vice President Jonathan Thiel , Sales Associate Lawrence Oxenberg and Sales Associate Daniel Forman will serve as the exclusive leasing agents.
NewRock Real Estate Partners LLC and Brickbox Properties purchased the asset from Schulz and Schulz Realty.
The industrial fund intends to identify and make investments over the next 24 months with various operating partners.