MIAMI—Bridge Development Partners acquired a 185-acre site in Miami Gardens, FL. The sale price: $28.2 million. Located between Miami-Dade and Broward Counties with direct frontage on the Florida Turnpike, the site is the future home of Bridge Point Commerce Center.
“This is one of the largest land deals to close in our market over the last decade and will potentially add more than 2 million square feet of class-A industrial space,” Kevin Carroll, a principal of Bridge Development Partners and Florida market leader, tells GlobeSt.com. “Our partners at the City of Miami Gardens have supported our efforts, being especially helpful in the rezoning of this underutilized asset to get it ready for development.”
Bridge Development will start clearing the site and break ground on the first phase of Bridge Point Commerce Center immediately. The easternmost portion of the site, which encompasses approximately 90 acres, is a shovel-ready development that will feature three class A industrial buildings totaling more than 1 million square feet of space.
The first two buildings are 286,875 square feet with 32-foot clear ceiling heights. The third is a 534,816-square-foot, cross-dock facility with 36-foot clear ceiling heights. Phase II of the industrial project will be developed on the western half of the site, a former landfill that has been closed for more than 40 years. Bridge Development has committed to preserve 13 acres of the site as green space.
“This is a great thing for our growing city,” says Miami Gardens Mayor Oliver Gilbert. “We are thrilled they are transforming this underutilized site that has been waiting for a developer of this caliber and look forward to the new economic opportunities the project spurs.”
Bridge Point Commerce Center offers fast access to South Florida's major transportation arteries and is equidistant to Fort Lauderdale-Hollywood International Airport and Port Everglades and Miami International Airport and PortMiami. The firm, NAIOP South Florida's 2016 Developer of the Year, has delivered approximately 2 million square feet of class A industrial space since entering the South Florida market in 2010.
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