Bridge Development secures loan for another spec industrial project in Fort Lauderdale

The Chicago-based developer will build 173k sf Bridge Point FLL Logistics Center

TRD MIAMI /
Dec.December 13, 2018 02:30 PM

Rendering of Bridge Point FLL Logistics Center and Kevin Carroll (Credit: Bridge Development Partners)

Bridge Development Partners secured the financing for another speculative industrial project in Fort Lauderdale.

The Chicago-based developer scored a $13.5 million construction loan to develop its Bridge Point FLL Logistics Center, which when complete will span two buildings and 174,129 square feet.

Wells Fargo provided the financing. CBRE’s Steve Roth advised on the deal, according to a statement. Bridge Development paid $5.65 million for the shuttered, 10.2-acre school site in June. The Broward County school board was the seller.

Bridge Point FLL Logistics Center will feature a 92,165-square-foot building and an 82,000-square-foot building. It will include 32-foot clear ceiling heights and rear-dock loading. CBRE’s Tom O’Loughlin and Larry Genet will handle leasing.

Bridge Development plans to complete the project by the third quarter of 2019. It’s located just north of I-595, across from Fort Lauderdale International Airport.

Later this month, the developer will complete another spec Fort Lauderdale industrial project spanning 221,542 square feet. Bridge Point Riverbend, at 201 Northwest 22nd Avenue, is being developed in partnership with Akard Street Partners, Banner Oak Capital Partners and Elion Partners.

The developer recently grabbed logistics company ShipMonk to ink a 170,447-square-foot, long-term lease at the building.

Bridge Development has nearly 2 million square feet of new industrial space underway in South Florida. In addition to the logistics center and Bridge Point Riverbend, current projects include Bridge Point Commerce Center in Miami Gardens, the company’s largest South Florida project to date with 2.1 million square feet; and Bridge Point Powerline, a 467,832-square-foot industrial park in Pompano Beach.


Related Articles

arrow_forward_ios
Daily Digest Miami

Construction worker killed in Hallandale electrocution, developer under contract for site near Fort Lauderdale Brightline

Rendering of Bodega Taqueria y Tequila, Keith Menin and Jared Galbut

Menin Hospitality’s Bodega is expanding to Fort Lauderdale

Daily Digest Miami

Missoni Baia lands massive loan, Babylon Brickell owner sells Overtown property: Daily digest

Daily Digest Miami

Carl DeSantis buys Delray office building, Faena lists Miami Beach home: Daily digest

The Fort Lauderdale home and Kenny Stills (Credit: ONE Sotheby’s International Realty and Getty Images)

Ex-Miami Dolphin Kenny Stills is selling his Fort Lauderdale home

JP Morgan's announces $5M investment in affordable housing in South Florida at the Black Archives Historic Lyric Theater in Overtown on Wednesday

JPMorgan to invest $5M to build 150 new affordable rentals in South Florida

Kushner Companies' Charles Kushner and Laurent Morali

Inside Kushner Companies’ $1B expansion into South Florida

Alan Jay Wildstein and 1500 Southeast 10 Street

Auto dealer snags a pad in Fort Lauderdale for $7M

arrow_forward_ios