Bridge Industrial is beginning a new project for a two-industrial building development in Miami, Florida.
The privately owned real estate firm will start by first demolishing the former headquarters of logistics company Ryder System at 11690 Northwest 105th Street. That will make room for the new site on 16.8 acres, called Bridge Point Flagler Station.
It will feature two industrial LEED-certified buildings, consisting of a total of 326,448 square feet, with both featuring 32 ceiling heights, a 180-inch shared truck court, and seven trailer park spaces. Additionally, the first building, taking up 128,805 square feet, comes with office space, two drive-in doors, 40 dock doors, and 142 parking spots. The other 197,643 square feet facility comes with 44 dock doors, 198 parking spots, office space, and two drive-in doors.
Bridge Point Flagler Station will be within 30 miles from all of Fort Lauderdale-Hollywood International Airport, PortMiami, Miami International Airport, and Port Everglades.
“Securing all necessary approvals and commencing sitework marks a significant milestone in transforming this prime location into a state-of-the-art industrial real estate complex,” said Kevin Carroll, partner of Southeast region at Bridge Industrial.
“Bridge Point Flagler Station will enhance South Florida’s logistics infrastructure, driving economic growth and job creation in the local community. We are equally dedicated to environmental responsibility and are proud to be pursuing green building certifications to ensure our project meets the highest sustainability standards. We look forward to bringing this project to fruition.”
Overall, demand seems to be strong in Miami’s industrial market despite vacancies increasing in the second quarter compared to the end of 2023. Positive absorption in the market reached 531,000 square feet in the three months through June and over a million for the entire first half of 2024, according to a CBRE report.
According to Bridge, it will develop its two-building site on a “speculative basis.” Vertical construction is set to begin later in 2024, with delivery anticipated for the third quarter of next year.