June 28, 2017
TypeDeal, Press Release
Brisk leasing activity continues at Fort Lauderdale’s newest world-class industrial park, Bridge Point I-95. Bridge Development Partners, one of South Florida’s most active industrial real estate developers, today announced the completion of a long-term lease agreement with U.S. Venture, Inc. for 97,326 square feet of space in Building 2, which will be delivered on schedule next month. One of U.S. Venture, Inc.’s business units, U.S. Autoforce, a leading nationwide distributor of aftermarket tires, parts and lubricants, will utilize the space as an additional South Florida distribution point.
“We are pleased to welcome U.S. Venture to our prestigious tenant roster at Bridge Point I-95,” said Kevin Carroll, a principal of Bridge Development Partners’ Miami office. “Our value-add strategy to seek out superior property locations and reposition them with carefully planned industrial parks continues to allow us to stabilize assets with quality tenants and deliver solid returns for our investors.”
Located immediately off Interstate-95, the two-building, 306,466-square-foot Bridge Point I-95 industrial park is now 77 percent preleased. Building 1, approximately 140,000 square feet, was delivered on time in the second quarter of this year. The building was fully pre-leased to quality tenants including Floor & Décor, a national leader in the hard-surface flooring market, who took 82,755 square feet of space; and Broward Motorsports, a Florida motorsports dealership with four regional locations, which took 57,341 square feet of space. Building 2, approximately 160,000 square feet, is now leased to U.S. Venture with only 70,000 square feet of space remaining that can accommodate tenants starting at 18,000 square feet of space.
CBRE’s Advisory and Transaction Services team in South Florida represented both sides of the transaction, with Tony Hoover representing Bridge Development Partners and Jeffrey Kapcheck representing the tenant, U.S. Venture, Inc.
“South Broward continues to be one of the hotter industrial real estate submarkets right now due to its centralized location and ease of access to South Florida’s busy air and seaports,” said Hoover. “U.S. Venture recognized the value Bridge Point I-95 offered. With direct access to the I-95 on-ramp, the company can cover a large radius in a matter of 20 minutes in any direction.”
Located at 2200 West Sunrise Boulevard in Fort Lauderdale, FL, Bridge Point I-95 industrial park features two buildings with 32’ clear ceiling heights, rear-dock loading and high-powered ESFR sprinkler systems. The park offers a strategic location with direct frontage on I-95, with 302,000 cars passing per day. With direct on-ramp access to I-95, the park offers easy access to South Florida’s major transportation arteries and is in close proximity to Fort Lauderdale-Hollywood International Airport and Port Everglades, and just a short 30-minute drive to Miami. Bridge Development Partners acquired the 17.5-acre site, a former concrete pipe manufacturing plant, in December 2015.
For more information on Bridge Point I-95 or to schedule a property tour, please contact CBRE’s Tony Hoover at (561) 393-1619.
U.S. AutoForce is a division of U.S. Venture, Inc. a privately held company recognized as an innovative leader in the distribution of petroleum and renewable energy products, lubricants, and tires and parts for the aftermarket. For more information visit www.USVenture.com