October 23, 2017
TypeDeal, Press Release
Miami, FL – (October 23, 2017) — Bridge Development Partners today announced the acquisition of a 185-acre site in Miami Gardens, Fla. for $28.2 million. Strategically located between Miami-Dade and Broward Counties with direct frontage on the Florida Turnpike, the site is the future home of Bridge Point Commerce Center. At full build out, the business park can accommodate more than 2 million square feet of Class-A industrial development.
“We are really excited about this project,” said Kevin Carroll, a principal of Bridge Development Partners and Florida market leader. “This is one of the largest land deals to close in our market over the last decade and will potentially add more than 2 million square feet of Class-A industrial space. Our partners at the City of Miami Gardens have supported our efforts, being especially helpful in the rezoning of this underutilized asset to get it ready for development. We look forward to meeting demand for high-quality industrial space in this market and making a significant economic impact in the local community.”
Bridge Development will start clearing the site and break ground on the first phase of Bridge Point Commerce Center immediately.
The easternmost portion of the site, which encompasses approximately 90 acres, is a shovel-ready development that will feature three Class-A industrial buildings totaling more than 1 million square feet of space. The first two buildings are 286,875 square feet with 32’ clear ceiling heights and the third is a 534,816-square-foot, cross-dock facility with 36’ clear ceiling heights. Phase II of the project will be developed on the western half of the site, a former landfill that has been closed for more than 40 years.
“We bring tremendous experience eliminating all kinds of complex site issues to successfully deliver Class-A development projects nationwide,” said Carroll. “We partner with the top industry experts, in this case Viridian Partners out of Colorado, to engineer innovative solutions that safely transform these sites into thriving community assets.”
Miami Gardens Mayor Oliver Gilbert added, “This is a great thing for our growing city. Bridge Development has a stellar reputation for delivering world-class business parks across the country. We are thrilled they are transforming this underutilized site that has been waiting for a developer of this caliber and look forward to the new economic opportunities the project spurs.”
According to Miami Gardens City Manager Cameron Benson, Bridge Development has gone a step further to enhance the local community by committing to preserve 13 acres of the site as green space. “Beyond bringing new jobs and investment with the development of this premier business park, we’re pleased Bridge is aligned with our City’s commitment to a greener future for our community,” he added.
Bridge Point Commerce Center offers easy access to South Florida’s major transportation arteries and is equidistant to Fort Lauderdale-Hollywood International Airport and Port Everglades and Miami International Airport and PortMiami.
Bridge Development, NAIOP South Florida’s 2016 Developer of the Year, has delivered approximately 2 million square feet of Class-A industrial space since entering the South Florida market in 2010.