Bridge Development Secures $60M Construction Loan For Bridge Point 595 In Davie

Oct 24, 2019 No Comments by

Bridge Development Partners, one of South Florida’s most active industrial real estate developers, announced it has secured $60.28 million in financing to develop its speculative Bridge Point 595 industrial business park project in Davie.

The three-building, 677,314-square-foot logistics facility, located at 2650-2750 Bridge Way, is slated for completion in the third quarter of 2020.

The $60.28 million loan, issued by Wells Fargo, was secured by Steve Roth of CBRE’s Debt & Structured Finance team and will cover the development of the 34.1-acre site located in Broward County, acquired by Bridge Development Partners in July.

“We are pleased to have secured financing for our newest South Florida project, Bridge Point 595” said Kevin Carroll, Partner, Southeast Region of Bridge Development Partners. “We look forward to delivering another world-class logistics center in Broward County that will serve to meet the needs of today’s tenants, many of which are e-commerce businesses, freight forwarders and last-mile distributors that require a modern and efficient warehouse space with a highly accessible location that is ‘close to clicks’ in major population centers.”

Bridge Point 595 features three Class-A industrial buildings. Buildings 1 and 2 will each total 290,295 square feet and Building 3 will total 96,724 square feet. The three buildings will feature 32’ clear ceiling heights, dock-high loading, ESFR sprinkler systems, a 1.04/1,000 parking ratio, 54’ column spacing and 60’ speed bays. The rear-load facilities are located minutes from 595, I-95 and Florida’s Turnpike, offering easy access to South Florida’s major transportation arteries. The park also offers easy connections to South Florida’s busiest air and seaports, including Fort Lauderdale – Hollywood International Airport and Port Everglades, Port Miami and Miami International Airport.

The Berger Commercial Realty industrial team of John Forman, and Senior Vice Presidents Joseph Byrnes and Keith Graves have been awarded leasing for the project.

Since 2012, Bridge has acquired 473 acres throughout Miami Dade and Broward Counties and delivered more than 3 MSF of Class-A industrial space across the region. The company’s current South Florida portfolio spans more than 4 million square feet.

 

 

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