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
Axonic's Jonathan Shechtman and Breezes at Palm-Aire (Berkadia)
Axonic Properties buys Pompano Beach condos in $25M bulk purchase
Axonic Properties buys Pompano Beach condos in $25M bulk purchase
Asher Abehsera and Jonathon Yormak with 2400-2500 North Miami Avenue (Google Maps)
LIVWRK in contract to buy Wynwood assemblage from East End Capital
LIVWRK in contract to buy Wynwood assemblage from East End Capital
Rendering of the Sonata Apartments (Burgos Lanza, iStock)
Cornerstone wins approval for mixed-income apartment complex in Pompano Beach
Cornerstone wins approval for mixed-income apartment complex in Pompano Beach
The Estate Companies Principal Jeff Ardizon and Managing Principal Robert Suris with a rendering of the project. (Estate)
Estate Companies scores $76M construction loan for North Miami Beach apartments
Estate Companies scores $76M construction loan for North Miami Beach apartments
(Photos courtesy of Miami Historic Preservation, Smith Aerials, Colliers)
Development site near MiamiCentral hits the market
Development site near MiamiCentral hits the market
The site and renderings of Premium Development’s nearby project. (Premium Development)
Multifamily developer buys piece of Little Havana assemblage
Multifamily developer buys piece of Little Havana assemblage
FECI's Kolleen Cobb with Countyline Corporate Park and the new sites at 4181 and 4241 West 108th Street (Google Maps)
FECI plans Countyline Corporate Park expansion with $33M construction loan
FECI plans Countyline Corporate Park expansion with $33M construction loan
Alliance Residential Company CEO Bruce Ward and 6595 Morikami Park Road (Google Maps)
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
Alliance Residential buys site, scores $46M construction loan for senior apartments in Delray Beach
arrow_forward_ios

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

Loading...