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.
Berger Commercial Realty/Corfac International Vice President Jonathan Thiel and Sales Associate Daniel Forman recently represented the landlord in the lease deals.
A new lease deal for 98,012 square feet brought the 677,318-square-foot logistics park to full occupancy.
Ryder Logistics relocated and expanded its third-party logistics operations to Cabot Miramar from Seneca Park in Pembroke Pines, where it previously occupied ±80,000 square feet. The company will take occupancy immediately.