Bridge Honored as Developer of the Year by NAIOP South Florida
Bridge Development Partners, one of South Florida’s most active industrial real estate developers, has been named Developer of the Year by the South Florida chapter of NAIOP, a leading commercial real estate industry association. This marks the company’s third time earning this prestigious recognition since first establishing a South Florida foothold in 2012.
“We’re so proud to once again be named South Florida’s Developer of the Year,” said Kevin Carroll, Partner, Southeast Region of BRIDGE. “It is rewarding to be recognized for our ongoing commitment to excellence in delivering world-class logistics projects that bring new jobs and investment to our local communities. We extend a sincere congratulations to our dedicated team of professionals and valuable partners because without them, it would not be possible.”
Presented at NAIOP South Florida’s Annual Awards of Excellence Ceremony, held virtually this year on June 16, this highly coveted award is presented to one developer that best exemplifies leadership and innovation in the region’s commercial real estate market. BRIDGE was recognized for completing, acquiring and/or breaking ground on more than 3.77 million square feet of speculative industrial development projects that are changing the South Florida landscape, including:
- Bridge Point Commerce Center, located in Miami Gardens, is the company’s largest South Florida project to date. In 2019, the company delivered Phase I of the project, consisting of three Class-A industrial buildings totaling 1.1 million square feet, after successfully pre-leasing 50 percent of the project to high-quality tenants. Leasing momentum continues at the park, which will encompass 2.1 MSF at full build out. Construction on Phase II is expected to begin third quarter of 2020.
- Bridge Point Powerline Road, a +/-467,832-square-foot industrial park strategically located equidistant between the FL Turnpike and I-95 with direct frontage on Powerline Road in Pompano Beach. The logistic park was 50 percent pre-leased to quality tenants, including TSF Sportswear, prior to completion in the fourth quarter of 2019. The asset is nearly 100 percent occupied today.
- Bridge Point FLL Logistics Center is a two-building, 174,129-square-foot logistics facility developed at Fort Lauderdale–Hollywood International Airport. Prior to completing the project in 2019, BRIDGE successfully pre-leased 92,000 square feet to a well-known containerized moving and storage company. Leasing momentum continues.
- Bridge Point Miramar was acquired by BRIDGE in early 2019. The 304,428-square-foot, Class-A distribution facility was the company’s first value-add play in South Florida. The property boasts a strategic location within 25 miles of South Florida’s international airports and seaports. Upon completing a multimillion-dollar investment to further upgrade the facility, BRIDGE welcomed Aero Accessories to the tenant mix.
- Finally, BRIDGE acquired two strategic sites in 2019 totaling 84+ acres, breaking ground on Bridge Point 595 in Davie, totaling 677,314 SF, and Bridge Point AVE located on Miami-Opa Locka Executive Airport, totaling 1 million square feet to be delivered in the fourth quarter of 2020 and second quarter of 2021 respectively.
BRIDGE sold Bridge Point Riverbend in 2019. BRIDGE sold Bridge Point Powerline Road and Bridge Point FLL Logistics Center to an institutional owner in early 2020 and remains involved as asset manager.
Since 2012, BRIDGE has acquired 473 acres in 15 separate transactions throughout Miami Dade and Broward Counties and delivered more than 4 million square feet of Class-A industrial space across the region. The company’s current South Florida portfolio spans more than 3 million square feet.