Tag Archive for: bridge point 595 development project


Prolific industrial builder Bridge Development Partners LLCĀ purchased 34 vacant acresĀ for $36.9 million to build a three-building center in Davie.

Bridge Point 595 will be southwest of Interstate 595 and Floridaā€™s Turnpike.Ā The 677,314-square-foot industrial park is set to open in the third quarter 2020. Two buildings will measure 290,295 square feet each and the third will be 96,724 square feet.

Chicago-based Bridge Development bought the land fromĀ Forman Industrial Land LLC, an affiliate of the Forman family whose late patriarchĀ Hamilton Forman was a prominent South Florida landowner who ventured into real estate projects.

Bridge Point 595 speaks to the healthy South Florida industrial market, which has some of the lowest vacancy rates among all asset classes. Population growth, e-commerce and the scarcity of large parcels are boosting the sector. Thatā€™s heightened interest from institutional investors, which have been scooping up properties and encouraged merchant buildersĀ who build to sell.

Bridgeā€™s construction spree since 2012 added 2 million square feet in Miami-Dade and Broward counties. Bridge recently sold its 221,815-square-footĀ Bridge Point Riverbend west of Interstate 95 in Fort Lauderdale to institutional investorĀ ASB Capital Management LLC for $38.2 million.

Its other projects includeĀ Bridge Point Commerce Center, a mammoth industrial project on 185 acresĀ southwest of Floridaā€™s Turnpike Extension and Northwest 47th Avenue in Miami Gardens. The 1.1 million-square-foot first phase will be finished by monthā€™s end. Future phases will take the total size to 2.1 million square feet.


Source: DBR