Bridge Development nabs $28M for spec industrial park in Hialeah Gardens

Bridge Point Crossroads East, Steven Poulos and a map of the complex
Bridge Point Crossroads East, Steven Poulos and a map of the complex

Chicago-based Bridge Development Partners has closed on $28 million in financing for part of its spec Class A industrial park in Hialeah Gardens, Miami-Dade County records show.

Bridgepoint Crossroads is 920,000-square-foot park that will be separated into three sites. When completed during the fourth quarter of next year, Crossroads East will span 420,989 square feet on about 29 acres. Cushman & Wakefield is the leasing firm.

A Bridge Development Partners affiliate paid $10 million for the property in October, according to Miami-Dade property records. It’s located east of the Florida Turnpike off of 107th Avenue. Crossroads East is north of 146th Street.

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Regions Bank was the lender for the construction loan. Bridge founder Steven F. Poulos signed the mortgage.

In July, Bridge sold its spec warehouse in Dania Beach for $22 million.