April 5, 2021
TypeDeal, Press Release
Bridge Development Partners (“BRIDGE”), a privately-owned development and acquisition firm of Class-A industrial properties, today announced it has inked a new industrial lease totaling 286,991 square feet at Bridge Point Commerce Center in Miami Gardens, Fla.
CITY Furniture, one of Florida’s largest home furnishing retailers, continues its noteworthy expansion across the state and signs a long-term lease to fully occupy Building C. The national Top 25 furniture retail company will utilize the space as a new distribution center. This newest lease brings Phase I of Bridge Point Commerce Center, which encompasses 1.1 million square feet of the 2.6 million-square-foot, Class-A industrial park, to more than 80 percent leased.
“We are pleased to have been able to meet all of CITY Furniture’s requirements and welcome them to our premiere tenant mix of companies that continue to choose Bridge Point Commerce Center to call home,” said Kevin Carroll, Partner, Southeast Region for BRIDGE.
Ryan Cronin, Director of Real Estate and Finance, CITY Furniture, added, “We are excited to be a part of Bridge Point Commerce Center. Wes Shelton and Dan Smith with SMMRE represented CITY, and they did a great job showing us all of the available warehouse options throughout Miami-Dade County. After looking at many, many different sites it became apparent that Bridge Point Commerce Center is the perfect spot for us. With easy access onto the Florida Turnpike, it will allow us to continue to execute on our goal of same-day delivery throughout Miami-Dade County. The team at CBRE and Bridge Development were fantastic to work with, and we look forward to being a part of Bridge Point Commerce Center for many years to come.”
The CBRE team of Tom O’Loughlin, SIOR, David C. Albert, Devin White and Larry Genet represented the developer, BRIDGE, in the transaction. CITY Furniture was represented by Wes Shelton and Daniel L. Smith PA/Broker, Smith Moses Morris & Associates Real Estate, Inc.
“There were several key factors that played into the tenant’s decision to sign on at Bridge Point Commerce Center, including responsive ownership, immediate occupancy and the world-class corporate park environment that supports CITY Furniture’s desire for same-day delivery and limited in-person customer pickup,” said O’Loughlin. “Most importantly, thanks to the park’s prime location along the County Line, the park allows for easy distribution across region. We look forward to continuing our leasing momentum.”
Aaron Hirschl, Vice President of BRIDGE added, “Demand continues for well located, modern industrial facilities such as Bridge Point Commerce Center, which is strategically situated to serve the Tri-County Region with ease. We look forward to going vertical on Phase II of the project so we may continue to meet local market demand.”
Phase I of the Class-A industrial park, consisting of three buildings totaling 1.1 million square feet, was delivered in January and is also home to HapCor, one of the leading grocery distributors to the Caribbean and Latin America, as well as one of the world’s largest retailers. Site work is underway for Phase II of the project, which encompasses two buildings, totaling 1.5 million square feet and is on schedule to be delivered in early 2023.
Strategically located between Miami-Dade and Broward Counties on a 185-acre site at 4310 NW 215th Street, Bridge Point Commerce Center offers Florida Turnpike frontage with 155,310 cars passing per day. Divisible to 40,000 square feet, the first two buildings in Phase I are 286,991 square feet with 32’ clear ceiling heights and the third is a 534,816-square-foot, cross-dock facility with 36’ clear ceiling heights. Divisible to 80,000 square feet, Phase II features two buildings that are 794,230 square feet each with 36’ clear ceiling heights. The park’s location is equidistant from Miami International Airport and Fort Lauderdale International Airport and offers immediate access to all points in South Florida via the Florida Turnpike and I-75. Build-to-suit and build-to-own opportunities are also available.
BRIDGE, one of South Florida’s most active industrial real estate developers, has acquired 493 acres in 16 separate transactions throughout Miami Dade and Broward Counties and delivered approximately 7 million square feet of Class-A industrial space across the region since entering the market in 2012. The company’s current South Florida portfolio spans more than 3 million square feet.
For more information about Bridge Point Commerce Center or to schedule a tour, contact CBRE’s Tom O’Loughlin, SIOR at (954) 356-0468 or David C. Albert at (305) 381-6474.