A partnership between one of South Florida's biggest industrial builders and an insurance giant's subsidiary plans to build a cold storage facility on a Hialeah site they bought for $11 million.
Bridge Development Partners LLC, based in Chicago, and PGIM Real Estate, based in Newark, New Jersey, bought the 20-acre site where they plan to build Bridge Point Cold Logistics Center. The land is at Northwest 162nd Street and 102nd Avenue between Interstate 75 and Florida's turnpike.
The 312,103-square-foot facility will be South Florida's first sold storage facility built as a speculative development without a tenant lined up, but the developers are betting on demand based on positive market indicators. Construction is to be finished late next year.
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Lidia Dinkova
Lidia Dinkova covers South Florida real estate for the Daily Business Review. Contact her at [email protected] or 305-347-6665. On Twitter @LidiaDinkova.
