Morgan Stanley-Backed Fund Sells Pompano Beach Industrial Park For $124.5M

A fund managed by Morgan Stanley has completed the sale of the Bridge Point Powerline Road industrial park in Pompano Beach for $124.5 million, underscoring the strength of Broward County’s industrial market.

The seller, PPF Industrial 1971–1991 NW Powerline Road LLC—part of Morgan Stanley Real Estate Advisor’s Prime Property Fund—disposed of three modern warehouse buildings totaling 467,722 square feet at 1971-1991 North Powerline Road.

CBRE National Partners represented the seller in the transaction.

The buyer, CenterPoint Powerline LLC, is an affiliate of CenterPoint Properties, based in Oak Brook, Illinois. The transaction pencils out to approximately $266 per square foot.

The property last changed hands in 2019, when it sold new for $68.95 million. Nearly doubling in value in six years, the deal highlights the significant rent growth industrial assets have experienced across Broward County during that period.

Developed by Bridge Industrial, the warehouses sit on a 29.3-acre site near Copans Road and feature 32-foot clear heights—an increasingly sought-after specification for logistics and distribution users.

Current listings indicate available space at asking rents of about $17.50 per square foot.

Source: SFBJ