Tag Archive for: bridge industrial

Port Everglades Sees Investment By Private Sector With Warehouse Builds

port everglades_canstockphoto85312570 770x320

Business opportunities at Port Everglades are expanding with the construction of two warehouses that will offer distribution and logistical services.

Seagis Property Group just reported that it’s 75% complete with its 199,624-square-foot speculative development at 1700 Eller Drive in Hollywood. It expects construction to be complete in September. The building sits just outside Port Everglades’ security entrance allowing for prompt entry to the seaport’s cargo terminals, Port Everglades International Logistics Center (PEILC) and Florida East Coast Railway‘s near-dock facility.

The other new build is by Bridge Industrial, which anticipates completing its 170,892-square-foot logistics facility in the second quarter of 2024. The building is less than a mile from Port Everglades at 2200 NE 7th Ave. in Dania Beach. It’s the former site of Park ‘N Fly.

“The creation of warehouses immediately adjacent to Port Everglades is an indication of our seaport’s strength and standing in the marketplace,” said CEO and Port Director Jonathan Daniels. “The private sector understands the advantages of partnering with our Port. In addition to being conveniently located near major modes of transportation, we are responsible for more than $28.6 billion worth of trade in 2022. That is attractive to businesses.”

These new privately owned warehouses will complement the PEILC, a public-private partnership with CenterPoint Properties that was built in 2020 on 16.657 acres of Port-owned property. The entire PEILC is activated as Foreign Trade-Zone No. 25 allowing for the efficient distribution of goods at lower duty and tariff costs.

By The Numbers

According to Bridge Industrial, the new Bridge Point Port Everglades warehouse will have:

  • 32-foot clear ceiling height
  • 34 dock-high doors
  • 2 drive-in doors
  • A 120-foot truck court
  • 156 car parking spaces
  • Seagis Property Group reported that its warehouse will have:
  • 36-foot clear ceiling height
  • 32 dock doors
  • 2 oversized drive-in ramps
  • 172 automobile parking spaces
  • 49 trailer parking spaces

 

Source: AJOT

Bridge Acquires Pompano Industrial Campus For $46.25M, Launches National Value-Add Strategy

Pompano Beach Commerce Park - Aerial 770x320

Bridge IndustrialĀ (ā€œBridgeā€), a privately-owned, vertically integrated real estate operating company and investment manager, has acquiredĀ Pompano Beach Commerce ParkĀ ā€” a three-building, 336,852-square-foot industrial campus in Pompano Beach.

Following the acquisition, Bridge plans to launch a comprehensive capital improvements program at the property, inclusive of landscaping, parking lot upgrades, monument signage, and roof replacements. The acquisition will mark Bridgeā€™s first property closing as part of a new value-add strategy.

ā€œThe acquisition of this campus in a prime submarket marks not only the latest addition to our growing portfolio, but the introduction of a new value-add strategy that will expand our capabilities and allow us to acquire existing buildings and deliver even more services to our clients in the region,ā€ said Nick Siegel, Partner with Bridge.

Jose LobonĀ ofĀ CBRE National PartnersĀ represented the Seller in the transaction.

Located on Powerline Road in the Pompano Beach submarket of Broward County, Pompano Beach Commerce Park is made up of three industrial buildings ā€” spanning 140,094 square feet, 124,894 square feet and 71,864 square feet, respectively. The facilities possess several attractive characteristics including 24-clear heights and multiple points of ingress and egress along its 800 feet of linear frontage along Powerline Road. Bridge has had previous development success in Pompano Beach, with itsĀ Bridge Point Powerline RoadĀ project spanning over 450,000 square feet less than one mile from its newest acquisition.

The campus is located less than two miles from I-95 and just 1.4 miles from the Florida Turnpike, allowing users to reach nearly all of Floridaā€™s population of 6.2 million within just a 60-minute drive. The property also sits just 15 miles from Port Everglades and the Fort Lauderdale-Hollywood International Airport, and roughly 40 miles from the Port of Miami and Miami International Airport. The central location of the site allows its tenants to service 92% of South Floridaā€™s 6.2 million population within a 60-minute drive time.

ā€œSouth Florida is one of the most supply-constrained markets in the entire country, and Bridge has found major success in developing and operating state-of-the-art warehouse space that can help meet the immense demand from industrial users in this area,ā€ said Kevin Carroll, Southeast Partner at Bridge.

Bridge is one of South Floridaā€™s most active industrial real estate developers. The company has acquired approximately 700 acres in 17 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 companyā€™s current South Florida portfolio spans more than 5 million square feet of company-owned and third-party managed properties with an additional 2.5 million square feet under construction.

 

Source: CRE-sources