MIAMI—Bridge Development Partners, a Chicago-based real estate investment firm, has closed on its second land acquisition in 30 days. Bridge snapped up a 16.5-acre industrial zoned land parcel in Dania Beach, FL. In July, Bridge acquired a 15-acre plot of industrially zoned land in Port 95 Commerce Park.

“We've carved out a niche in Dania Beach which will separate us from new construction under development in Broward County,” says Kevin Carroll, principal with Bridge in Miami. “With our second land acquisition, our positioning and timing will enable us to fill an important need for new class A construction, as industrial space in Florida is absorbed at a rapid rate.”

The robust industrial market is evidenced by 620,000 square feet of positive absorption year-to-date. In anticipation of the Panama Canal expansion, South Florida has promoted economic growth, international trade, and infrastructure improvements. Bridge Point tenants will realize those benefits, as well as a location next to the Fort Lauderdale Airport/Hollywood International Airport, and direct access to Interstate 95 and Interstate 595.