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Bristol Group Redevelops Miami Warehouse

MIAMI-The San Francisco,-based real estate investment and development firm spent about $3.5 million on the redevelopment of the recently acquired 203,000-sf Bristol Distribution Center in Sunshine State International Park here.

By Melissa Bogdany | Updated on March 10, 2004

MIAMI-Bristol Group Inc. has completed a $3.5-million redevelopment of a vacated 203,000-sf warehouse it acquired in the city last year. The property is located at 15600 N.W. 15th Ave., within Sunshine State International Park in the Golden Glades area of North Miami. The new Bristol Distribution Center is a state-of-the-art warehouse and distribution facility.

The upgrades Bristol Group, a real estate investment and development firm based in San Francisco, performed at the property include an ESFR fire sprinkler system, hi-bay metal halide lighting, fiber-optics, CSX rail and on-site storage for up to 40 trailers. The 26-ft clear dock high warehouse area is 172,000 sf and has 28 doors, with a ratio of one door per 5,800 sf. The 31,000-sf area adjacent to the warehouse will be built-to-suit as manufacturing, assembly, showroom or office use.

“The acquisition and redevelopment of Bristol Distribution Center is consistent with Bristol’s strategy of targeting both core and value-added industrial acquisitions throughout South Florida, Chicago, New Jersey and Southern California,” says Dave Williams, acquisition manager for Bristol Group in Florida. “With cap rates at historic lows, we viewed this acquisition as a great opportunity to develop a class A industrial property at a price well below replacement cost.”

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