Bridge Industrial Secures $60M Loan for Bridge Point Gratigny, Adjacent to Miami Opa Locka Executive Airport, FL
Bridge Point Gratigny will be a 409,000 SF+ Logistics Facility Featuring In-Demand Tenant Amenities, Including 100+ Secured, On-Site Trailer Parking
MIAMI, FL – (Sept. 28, 2023) – Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, today announced it has secured $60 million in financing to develop Bridge Point Gratigny, a modern new 409,189-square-foot logistics facility. Strategically located adjacent to Miami Opa Locka Executive Airport, on a prime corner—NW 135th Street and NW 47th Street—the new logistics center offers frontage along the Gratigny Expressway (SR 916). On track to be delivered in the third quarter of 2024, the project will cater to today’s logistics users, complete with more than 100 fully secured trailer parking spaces.
The $60 million loan, issued by Equitable Financial Life Insurance Company, was secured by Steve Roth of CBRE’s Debt & Structured Finance team and will cover the development of the 26-acre site acquired by Bridge Industrial in July of 2022.
“With our financing secured, we look forward to delivering South Florida’s newest premier industrial facility,” Kevin Carroll, Partner, Southeast Region of Bridge Industrial. “Bridge Point Gratigny builds upon our success at our nearby Bridge Point AVE project and will not only serve to meet local demand for high quality, modern industrial space, but will also foster local job creation.”
Centrally located in Miami-Dade County, Bridge Point Gratigny offers direct access to the Gratigny Expressway, a major east/west thoroughfare connecting to I-95 and I-75. The site is just minutes to I-75, I-95, and 826, with quick access to South Florida’s busiest air and seaports.
Bridge Point Gratigny will be a world-class, 409,189-square-foot industrial facility featuring in-demand tenant amenities, including 106 fully secured trailer parking spaces, a fully secured, nonshared truck court, 40’ clear ceiling height with 54’ column spacing, 60’ speed bays, two street-level ramps, and 82 dock-high loading doors.
Bridge is one of South Florida’s most active industrial real estate developers. Since 2012, the company has acquired approximately 750 acres in 22 separate transactions across South Florida. Bridge has delivered and/or has under construction nearly 11 million square feet of Class-A industrial space regionwide. Bridge continues to seek opportunities to develop modern industrial facilities in the most supply-constrained core infill industrial markets that can meet the steady demand for last-mile and next-day delivery.
