Bridge Development Partners Makes First Value-Add Play In South Florida With Purchase Of Miramar Warehouse

Feb 27, 2019 No Comments by

Bridge Development Partners, one of South Florida’s most active industrial real estate developers, announced the acquisition of a 304,428-square-foot, Class-A, rear-load distribution building located at 15501 SW 29th Street in Miramar. Bridge will immediately upgrade the property, Bridge Point Miramar, with a significant renovation.

Bridge Development purchased the property from Sherm Realty Corp., an affiliate of Apotex Corp. A Cushman & Wakefield team led by Vice Chairman Mike Davis and Executive Directors Chris Metzger and Rick Etner, Jr., with the firm’s National Industrial Advisory Group, arranged the sale, representing the seller in the transaction.

 

“While traditionally we develop our South Florida industrial properties, we couldn’t pass up this prime, value-add opportunity located in the heart of Southwest Broward County,” said Kevin Carroll, Partner, Southeast Region of Bridge Development Partners. “This modern distribution facility has all the right ingredients in place—a prime location, a first-class corporate campus environment and modern features and amenities. Upon the completion of our multimillion-dollar investment to further enhance this facility’s offerings, Bridge Point Miramar will be a top choice for industrial users who require easy access to local, regional and international markets.”

Delivered in 2015, Bridge Point Miramar is located on a 20-acre lot within Miramar Centre Business Park, a premier 1.1 MSF+ master-planned corporate park that is home to nationally recognized tenants such as Comcast, Bunzl, Stanley Black & Decker, Johnson Controls and Nestle Waters. Rounding out the park’s prestigious tenant roster is Kellstrom Defense Industries, which currently occupies 25 percent of Bridge Point Miramar.

Bridge Point Miramar can currently accommodate tenants from 45,516 to 228,566 square feet. The modern facility features 32’ clear ceiling heights, 130’ truck courts, 46 dock high doors, 50’ x 50’ column spacing, ESFR sprinklers and energy efficient T-5 lighting. Strategically located, Bridge Point Miramar offers exceptional connectivity to all modes of transportation, allowing for easy distribution on a local, regional and international basis. The property is situated within 25 miles of South Florida’s international airports and seaports with convenient access to Interstate 75, Interstate 595 and the Florida Turnpike. In addition to being visible to Interstate 75, the Park is less than two miles from Miami-Dade County, which allows for quick access and distribution.

Bridge Development is on track to deliver nearly 2 million square feet of Class-A industrial space in key South Florida distribution markets over the next year. Current projects include Bridge Point Commerce Center in Miami Gardens—the company’s largest South Florida project to date—which will encompass 2.1 million square-foot of class-A industrial space at full build out; Bridge Point Powerline Road—a +/-467,832-square-foot industrial park in Pompano Beach; and Bridge Point FLL Logistics Center, a two-building 174,129-square-foot logistics facility, located at Fort Lauderdale–Hollywood International Airport.

 

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Broward County Industrial / Flex, Industrial / Flex, Industry News
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