Bridge Development buys dev site in Pompano Beach

Industrial developer is planning a 465k sf business park

Miami /
Nov.November 16, 2017 01:00 PM

Rendering of Bridge Point Powerline Road Business Park with Kevin Carroll of Bridge Development Partners (Credit: Bridge Development Partners)

Bridge Development Partners just acquired another heap of land, this time in Pompano Beach, with plans to build a spec industrial park called Bridge Point Powerline Road, The Real Deal has learned.

The Chicago-based developer paid about $12.3 million for 40 acres of land at 1951 North Powerline Road and broke ground on the first phase of the 467,832-square-foot project, according to a source close to the deal. The purchase has not yet cleared records.

The trade, which breaks down to $307,500 per acre, includes a 150,000-square-foot warehouse fronting Powerline Road. The site is between the Florida Turnpike and I-95.

The seller, Waste Management Inc. of Florida, is relocating, according to a press release. Previous sales information is not available online.

CBRE’s Tony Hoover represented Bridge Point in the transaction. Kevin Carroll, Bridge Development Florida principal was not immediately available for comment.

Once completed, the project will feature three buildings, two of which will total 172,927 square feet each and share a 180-foot truck court. The third will span 121,978 square feet and feature a 120-foot fully-secured truck court, according to the release. Amenities for the buildings include high ceilings and 54-foot column spacing.

Last month, Bridge paid $28.2 million for 185 acres of land in Miami Gardens where it plans to build another spec industrial park called Bridge Point Commerce Center. Bridge is also in the midst of building a new distribution facility in Fort Lauderdale called Bridge Point Riverbend.

Nearby in Pompano, Farmers New World Life Insurance, a subsidiary of the Swiss insurance company Zurich Insurance Group, in August paid about $15 million, or nearly $120 per square foot, for a distribution center at 4000 North Dixie Highway.


Related Articles

arrow_forward_ios
Joseph Chetrit and a rendering of 2629 North Riverside Drive (Getty)
Chetrit scores $94M construction loan for oceanfront condo project in Pompano
Chetrit scores $94M construction loan for oceanfront condo project in Pompano
Alterra Property Group's Leo Addimando and 1645 Northwest 33rd Street in Pompano Beach (Google Maps, Alterra Property Group)
Philly firm pays $14M for Pompano Beach warehouse
Philly firm pays $14M for Pompano Beach warehouse
Canadian investor buys waterfront Pompano Beach development site for condos
Canadian investor buys waterfront Pompano Beach development site for condos
Canadian investor buys waterfront Pompano Beach development site for condos
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
McDowell wants to build 201 apartments near Homestead, puts land under contract
Renderings of Venus with Erik Rutter and David Weitz (ImageFiction)
Carpe secures approval for North Miami Beach mixed-use apartment project
Carpe secures approval for North Miami Beach mixed-use apartment project
Related Group begins sales of Casamar in Pompano Beach
Related Group begins sales of Casamar in Pompano Beach
Related Group begins sales of Casamar in Pompano Beach
From left: Damien Barr and Ned Grace of NDT Development; Joe Furst of Place Projects; a rendering of the planned redevelopment of the Nora District in downtown West Palm Beach (ArquitectonicaGEO, Place Projects, NDT Development)
West Palm developers secure capital partner for Nora District projects
West Palm developers secure capital partner for Nora District projects
(Google Maps, iStock)
Canadian firm buys condo-hotel dev site in Pompano Beach for $18M
Canadian firm buys condo-hotel dev site in Pompano Beach for $18M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...