With a self-imposed deadline of year-end 2016 just around the corner, Bridge Development Partners has broken ground on the latest piece of its Bridge Point Crossroads industrial project in Hialeah Gardens.
The Chicago-based firm announced this week that it’s begun construction work on a pair of warehouse buildings totaling 420,989 square feet at the corner of Northwest 109th Avenue and Northwest 148th Street.
Dubbed Bridge Point Crossroads East, the two buildings are going up on a 28-acre development site that Bridge Development Partners purchased for $10 million two years ago, according to county records.
Both will feature 75 truck doors, high-powered ESFR sprinkler systems and 32-foot clear heights. The project will also enjoy quick access to major transport arteries like SR-27, Florida’s Turnpike and I-75 — a big plus for industrial tenants. The buildings’ expected completion date is 2016’s fourth quarter.
Bridge has gone on a virtual development spree in South Florida over the past few years: the firm is building a project in Fort Lauderdale and two other phases of the Bridge Point Crossroads project in Hialeah Gardens, and has delivered similar speculative product in Davie and Dania Beach.
All told, the projects add up to just under 1.8 million square feet of product.
In Miami-Dade, the company cites its low industrial vacancy rate of 4 percent as a major reason it’s chosen to build so much product. — Sean Stewart-Muniz