The project will cater to a variety of tenant space needs with planned buildings ranging from 165,000 to 900,000 square feet. The first building is set to be delivered in late 2023.
Cushman & Wakefield’s Brian Gale, Andrew Trench, and Ryan Holtzman represented the landlord, Nuveen Real Estate, in the lease negotiations and Transwestern’s Glenn H. Gregory represented the tenant.
The assemblage includes three free-standing warehouse buildings totaling 28,306 square feet of renovated industrial/flex space on a 41,026-square-foot lot in the heart of Miami’s Little River Business District.
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.
Bridge Point Gratigny will be a 409,000 SF+ logistics facility featuring in-demand tenant amenities, including 100+ secured, on-site trailer parking.
Native Realty’s Jaime Sturgis represented both sides of the $17.5 million sale.
The project will provide 320K SF of Class-A office space and 80K SF of functional outdoor space. It will stretch over a 2-acre block between Northeast 42nd and 43rd streets and between Northeast Second and Fourth avenues.
Here are the most popular news headlines this past week on CRE-sources.
Klein and Gerberg represented the buyer, Brickbox Management LLC, in the transaction.
Future renovations planned include further upgrades to the building lobbies, additional building amenities, a new state-of-the-art conference facility, and continued upgrades to the common areas and restrooms.