Pompano Beach Development Site Commands $12M
- Dec 05, 2017
CBRE has facilitated the sale of Bridge Point Powerline Road, a 40-acre development site in Pompano Beach, Fla. Bridge Development Partners acquired the asset in a $12.3 million deal from Waste Management.
Located at 1971-1991 NW Powerline Rd., the property is one of the largest industrial-zoned sites in North Broward County. Bridge Development has revealed plans for a 521,560-square-foot, four-building institutional showroom and distribution park. Currently under construction, the project is slated for completion in the fourth quarter of 2018. Earlier this year, the developer delivered Bridge Point I-95, a two-building business park in Fort Lauderdale, Fla.
Multiple occupancy options
CBRE First Vice President Tony Hoover worked on behalf of the buyer in the transaction. In addition, Bridge Development Partners retained CBRE to provide leasing services for the property, led by Tony Hoover and Larry Dinner, senior vice president.
“While most buildings in this submarket do not exceed 120,000 square feet, Bridge plans to build two large floorplates, each of 172,000 square feet, offering multiple occupancy options for large tenants,” Hoover said in prepared remarks.
The site provides an approximately 3.5-acre frontage parcel along Powerline Road with dual access to the heavily trafficked transportation artery. The property is two minutes from Interstate 95 and Florida’s Turnpike and 15 minutes from the Fort Lauderdale-Hollywood International Airport and Port Everglades.
Rendering courtesy of Bridge Development Partners