May 16, 2023
Leading real estate operating company and investment manager recognized for exceptional development activity across supply-constrained Los Angeles County throughout 2022
LOS ANGELES (May 16, 2023) – Bridge Industrial, a privately-owned, vertically integrated real estate operating company and investment manager, announced today that it has been awarded NAIOP SoCal’s “Developer of the Year” award for its successful development activity across the region in 2022. Bridge currently has 11 new Class-A industrial buildings under development across Los Angeles County, totaling nearly 1.6 million square feet of development over 70 acres.
NAIOP SoCal, one of the organization’s largest national chapters with over 1,000 members, formally extended the award to Bridge Industrial at the organization’s second annual SoCal Awards Gala, held in Los Angeles on May 11. Bridge was also a finalist for Industrial Project of the Year for Bridge Point South Bay V and VI, and for Bridge Point Santa Fe Springs IV. Bridge’s Senior Vice President, Development, Heather Crossner, was a finalist for Commercial Real Estate Woman of the Year.
“The past year has been an exciting period for Bridge’s activity across California, and it’s an honor to accept this award as we continue building a pipeline of high-caliber industrial facilities,” said Brian Wilson, Partner, West Region at Bridge Industrial. “This is a highly competitive region, where record-low vacancy rates have driven consistent market demand, and we are proud to be recognized by our peers for our achievements. We look forward to continuing our work attracting top-tier tenants and driving economic development across Southern California.”
Some of Bridge’s most notable developments throughout 2022 include Bridge Point South Bay V and VI — two state-of-the-art industrial facilities measuring 100,528 and 107,733 square feet, respectively, which Bridge transformed from an end of production oil field near LAX. The buildings are complete as of April 2023 and available for immediate occupancy. Bridge also recently completed demolition of two antiquated facilities in Vernon, CA to make way for two new modern facilities, Bridge Point Vernon II, which will total 209,078 square feet, and Bridge Point Vernon III, which will total 185,089 square feet. The facilities are under construction and expected to be delivered during the first half of 2024.
The firm is also at the forefront of the development of modern industrial facilities with integrated sustainable features. Across its infill California portfolio, Bridge is deploying solar panels on otherwise underutilized roofs, adding EV charging stations for tenants, designing buildings to a LEED® Gold standard, and in some cases, like that of Bridge Point South Bay II, providing incentives for tenants to utilize green and electric vehicles.
Bridge continues to grow its presence throughout California, with over 40 buildings across 26 developments completed or under construction in the state to-date. Having secured over 9.5 million square feet of buildings in California valued at $2.7 billion, Bridge continues to pursue the acquisition of existing industrial buildings, sites, and the development of industrial facilities within supply-constrained core infill submarkets.