Bridge Industrial has acquired 26 acres of land adjacent to the Miami Opa Locka Executive Airport in Miami, where it plans to build a 409,189-square-foot logistics facility called Bridge Point Gratigny. Completion is slated for early 2024.
The developer purchased the site at NW 135th and NW 47th streets from AA Acquisitions. The site requires some environmental cleanup as it contains wetlands and was a U.S. military training facility during the Korean War. Centrally located in Miami-Dade County, the property has frontage along the Gratigny Expressway (SR 916), a major east-west thoroughfare connecting to I-95 and I-75 that offers quick access to South Florida’s busiest airports and seaports.
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Bridge Point Gratigny will have 106 trailer parking spaces, a fully secured, nonshared truck court, 40-foot clear height with 54-foot column spacing, 60-foot speed bays, two street-level ramps and 82 dock-high loading doors.
Aaron Hirschl, vice president of Bridge, said in a prepared statement trailer parking is increasingly important to tenants involved in e-commerce and logistics space. He added on-site trailer parking is limited in the region, which is why they made sure to include more than 100 fully secured spaces at the development.
Colliers’ Director Steven Wasserman and Managing Director Erin Byers represented Bridge in the transaction.
More Florida projects
Kevin Carroll, partner, Southeast region, at Bridge, said in prepared remarks the company has had success with its nearby Bridge Point AVE project and looks forward to delivering a state-of-the-art project to help meet the demand for modern industrial space. Located at the Miami Opa Locka Executive Airport, the Bridge AVE site has four industrial buildings totaling more than 1 million square feet of space on 50 acres. The Class A corporate park was completed in the second quarter of 2021.
Last month, Bridge acquired a 22.43-acre site adjacent to Port Everglades at 2200 NE 7th in Dania Beach that will be developed into Bridge Point Port Everglades, with a 170,892-square-foot facility. The company expects to deliver the new industrial building by early 2024.
In May, Bridge obtained a $153.5 million construction loan from CIBC Bank USA to complete construction on the second phase of Bridge Point Commerce Center in Miami Gardens, Fla. The second phase of the project will feature two Class A industrial buildings totaling 1.6 million square feet. The project is slated for completion by the third quarter of 2023. Located at 4310 NW 215th St., the industrial park is equidistant from Miami International Airport and Fort Lauderdale International Airport.
Bridge is one of South Florida’s most active industrial developers. Since 2012, the company has acquired approximately 700 acres in 18 separate transactions across South Florida. The company has delivered or is constructing more than 10 million square feet of Class A industrial space regionwide. Bridge continues to seek opportunities for more developments to construct additional modern industrial facilities in the supply-constrained core infill markets that can meet the steady demand for last-mile and next-day delivery.