July 11, 2019
TypeDeal, Press Release
Bridge Development Partners, one of South Florida’s most active industrial real estate developers, today announced the $36.9 million acquisition of a 34.14-acre site located at 5600 Reese Road in Davie, Fla. The company will break ground next month on Bridge Point 595, a modern business park featuring three state-of-the-art industrial facilities totaling 677,314 square feet scheduled to be completed in the third quarter of 2020.
Berger Commercial Realty represented the seller, Forman Industrial, in the transaction.
“We continue to aggressively pursue prime, last-mile development opportunities in South Florida, such as this, and look forward to delivering another world-class project in Broward County,” said Kevin Carroll, Partner, Southeast Region of Bridge Development Partners. “Soaring demand for modern, Class-A distribution space located ‘close to clicks’ in major population centers continues as e-commerce companies race to meet increasing consumer demands.”
Since 2012, Bridge Development has acquired 362 acres throughout Miami Dade and Broward Counties and delivered more than 2 MSF of Class-A industrial space across the region. The company is on track to deliver an additional nearly 2 million square feet of Class-A industrial space in key South Florida distribution markets this year.
Located off SW 29th Street and Reese Road in Broward County, 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.