Bridge Development Partners sells new Davie warehouse to TA Realty for $22M

Tenants include Pet Supermarket and Challenge Warehouse, which leased 97k sf and 48k sf

Mar.March 13, 2017 11:20 AM

Bridge Point Davie. Inset: Bridge Development Partners founders Ronald Frain and Steven Poulos

TA Realty just picked up a new distribution center in Davie for $22 million.

Bridge Development Partners sold the 145,800-square-foot warehouse at 3501 Burris Road to TA affiliate FNF I Crossroads West Davie LLC, records show. The price breaks down to about $151 per square foot. No financing was recorded.

Tenants include Pet Supermarket and Challenge Warehouse, which leased 97,000 square feet and 48,000 square feet, respectively, at Bridge Point Davie last summer. JLL’s David J. Wigoda and Steven Wasserman handled leasing.

Chicago-based Bridge Development Partners paid $5 million for the 9.75-acre site in 2014, and completed the warehouse about a year later. The warehouse features 32-foot ceiling heights and leasing bays of about 12,150 square feet. It’s near I-95, I-595 and the Florida Turnpike.

Bridge focuses on developing industrial buildings and business parks in Chicago, Florida, New Jersey and Los Angeles, according to its website. The company recently closed on financing and secured leases for similar projects in Fort Lauderdale and Hialeah Gardens.

TA Realty has been more active on the selling side in South Florida. The Boston-based asset manager sold the Centurion Tower in West Palm Beach for $26 million in October, and the Northpoint Corporate Center, also in West Palm, for $15 million in July.

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