Bridge Development Lands New Tenant at Miami Industrial Park
- Mar 31, 2021
CITY Furniture has committed to a 286,991-square-foot, full-building lease at Bridge Point Commerce Center in Miami Gardens, Fla. The agreement brings Bridge Development Partners’ 1.1 million-square-foot, three-building Phase I to 80 percent occupancy.
Delivered in two separate phases, with final completion set for early 2023, Bridge Point Commerce Center is expected to encompass a total of 2.6 million square feet. The new tenant, one of the largest home furnishing retailers in the state, will occupy Building C and will utilize the space as a distribution center. The park’s roster also includes Florida-based grocery retailer HapCor.
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Located at 4310 N.W. 215th St., on a 185-acre site between Miami-Dade and Broward counties, the distribution center along the Florida Turnpike is equidistant from Miami and Fort Lauderdale international airports, while Downtown Miami is 18 miles south.
CBRE’s Tom O’Loughlin, David Albert, Devin White and Larry Genet arranged the deal on behalf of the landlord, while Smith Moses Morris & Associates Real Estate Inc.’s Wes Shelton and Daniel Smith represented the furniture company.
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Delivered last January, Phase I includes two 286,991-square-foot warehouses with 32-foot clear heights, as well as a third, 534,816-square-foot cross-dock facility with 36-foot clear heights. Currently under construction, the second phase will add another 1.5 million square feet to the park, divided equally across two buildings with 36-foot heights.
Since entering the Florida industrial market in 2012, Chicago-based Bridge has picked up nearly 500 acres across the Miami Dade and Broward counties and completed some 7 million square feet of Class A industrial space in the region. Dubbed Bridge Point 595, the company’s 677,310-square-foot, three-building project in Broward County was the largest industrial development under construction in the Fort Lauderdale, Fla., market as of the end of 2020.