The 415,320-square-foot, Class A industrial facility was recognized at inaugural award ceremony based on its top-tier tenant offering and positive regional impact
LONG BEACH, CA (May 25, 2022) – Bridge Industrial (‘Bridge’), the privately-owned, vertically integrated real estate operating company and investment manager, announced today that the firm has been awarded NAIOP SoCal’s 2022 ”Industrial Project of the Year” for its work on Bridge Point Long Beach — a Class A development located in Long Beach, Calif. NAIOP formally extended the award to Bridge at the chapter’s inaugural Awards Gala, held in Anaheim, California, on May 12th.
Bridge Point Long Beach is a premier 415,320-square-foot industrial facility spanning 17.23 acres. The site is particularly notable for its large square footage offering, which is significantly above average when compared to other recent industrial deliveries in the supply-constrained South Bay submarket.
Following acquisition of the site — a former asphalt factory — in 2018, Bridge demolished the existing structure to redevelop the property, including an $84 million investment to support the site’s environmental remediation. The new facility features 21,000 square feet of office space (expandable to 40,000 square feet); 36-foot clear heights; 453 parking stalls, 104 of which offer electric vehicle charging; 61 trailer spots; and extensive landscaping.
The property’s design also incorporates high-end architectural finishes, such as concrete panels in varying hues of gray and reflective blue-glazed glass. Further, the site is ideally located just 15 miles from the Ports of Long Beach and Los Angeles, and is also adjacent to CA-91 between the 710 and 605 freeways — appealing to a range of transportation, e-commerce, and last-mile users.
“We’re extremely proud to be recognized by our peers for our success at Bridge Point Long Beach — a development that serves as a prime example of the vision and thoughtful strategy that goes into every project we pursue,” said Brian Wilson, Partner, West Region at Bridge. “Despite a number of unique challenges, our highly skilled development team successfully transformed a 75-year-old asphalt refinery into a vibrant industrial facility that gained the immediate attention of a tenant who created hundreds of jobs in the area. That’s exactly the kind of community-wide impact we strive to achieve through our development process, and we look forward to continuing these efforts throughout the SoCal region.”
Prior to the project’s completion in August 2021, the development was fully pre-leased to a major transportation and logistics provider that supplies operations for the U.S. Postal Service.
The internal project team for Bridge Point Long Beach consisted of Partner, West Region Brian Wilson; Director, Investments Kevin Finnegan; Senior Vice President, Development Heather Crossner; Senior Vice President, Investments Greg Woolway, and Manager, Development Tuckley Williams. Additional partners on the project include Jeff Huberman, Travis Allan, and Spencer Casement of Lee & Associates who acted as Bridge’s brokers in the transaction; Bridgette Herdman of Herdman A+D who led the architectural design; and Oltmans Construction who built the facility.
“Completion of this project would not have been possible without the hard work of the entire project team and the partners who supported the progress of this development at every stage,” said Kevin Finnegan, Director, Investments at Bridge. “Our work is only as strong as the team behind it, and we’re grateful to the many professionals whose expertise and dedication drove the success of Bridge Point Long Beach and numerous other Bridge developments throughout California.”
Bridge currently has over 6 million square feet currently under construction across the Southern and Northern California regions, and the firm 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.