MIAMI—A massive spec industrial building is about to underway in Hialeah Gardens, FL. Will it find favor with local or new-to-market industrial tenants that want to settle in Northwest Miami-Dade County? Or will the moment in Airport West and Doral steal its thunder?
Bridge Development Partners just purchased about 17 acres at Northwest 112th Avenue and 146th Street in Hialeah Gardens. The developer plans to build Bridge Point Crossroads West.
“We have selected growth markets in key areas where we are seeing a healthy demand for quality new class A industrial facilities and this location fits that strategy,” says Bridge principal Kevin Carroll. Wayne Ramoski and Gian Rodriguez of Cushman & Wakefield's Miami office represented Bridge in the acquisition. Financial terms of the deal were not disclosed.
The spec industrial project spans 242,000-square-feet with 32-foot-clear ceiling height. Bridge Point Crossroads West will offer good access to Florida's Turnpike, Interstate 75, and North Okeechobee Road.
Bridge is targeting businesses of 25,000 to 150,000 square feet. The company expects to deliver the industrial space in the fourth quarter of 2015.
The land acquisition for Bridge Point Crossroads West marks the firm's third transaction in South Florida in less than a year. Bridge previously snapped up two contiguous properties for the construction of the 189,000-square-foot Bridge Point Marina Mile and 230,000-square-foot Bridge Point Port 95. Both projects are located in Dania Beach, FL, close to the Fort Lauderdale/Hollywood International Airport and Port Everglades.
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