Updated 10:30 a.m., Dec. 21: Chicago-based Bridge Development Partners has closed on a 17.5-acre site in Fort Lauderdale for a spec warehouse development.
Bridge Development paid $12.45 million for the property at 2200 West Sunrise Boulevard. It will become Bridge Point I-95, a speculative two-building industrial project.
Each building will span about 150,000 square feet. Tony Hoover of CBRE represented the seller, A&N Properties. Kevin Carroll of Bridge Development is overseeing plans for the Fort Lauderdale development, according to a press release. The purchase has not yet hit property records.
The industrial market in south Broward County has a 6.3 percent vacancy, according to the release. The Fort Lauderdale airport/Dania submarket is reporting a 4.2 percent vacancy.
The property was the former site of a concrete pipe manufacturing plant. The seller is based in Fort Lauderdale and managed by Albert Mancini Jr. and Nicholas D. Mancini III. Previous sales information is not available online.
Plans for the project include warehouse heights of 32 feet, rear dock loading, and sprinklers. It’s slated for completion at the end of 2016.
The buyer has been active in South Florida in recent months. Bridge Development Partners is building a Class A spec warehouse complex in Hialeah Gardens, and sold a Dania Beach spec warehouse earlier this year. – Katherine Kallergis