{"id":1004578776,"date":"2022-05-02T03:37:46","date_gmt":"2022-05-02T11:37:46","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004578776"},"modified":"2022-12-08T23:12:43","modified_gmt":"2022-12-09T07:12:43","slug":"bridge-industrial-lands-154m-for-miami-logistics-park","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bridge-industrial-lands-154m-for-miami-logistics-park\/","title":{"rendered":"Bridge Industrial Lands $154M for Miami Logistics Park"},"content":{"rendered":"
\"Bridge<\/a>

Bridge Point Commerce Center, Phase II site. Image courtesy of Bridge Industrial<\/p><\/div>\n

Bridge Industrial<\/strong> has obtained a $153.5 million construction loan to complete construction on the second phase of its industrial project in Miami Gardens, Fla. The loan was provided by CIBC Bank USA<\/strong> and secured by CBRE<\/strong>\u2019s Steve Roth.<\/p>\n

The second phase of Bridge Point Commerce Center will be made up of two Class A industrial buildings totaling 1.6 million square feet. The two buildings are both nearly 800,000 square feet and can be split into 80,000-square-foot floorplates.<\/p>\n

Bridge Industrial is planning to construct both buildings with 36-foot clear heights, 138 exterior docks, four drive-in doors, and 198 spaces for trailer parking. The second phase already started construction in the third quarter of 2021 and is expected to be delivered in the third quarter of 2023.<\/p>\n

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READ ALSO<\/strong>: Tackling Climate Extremes: Q&A With the World\u2019s First Chief Heat Officer<\/a><\/p>\n

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Located at 4310 NW 215th St., the industrial park is equidistant from Miami International Airport and Fort Lauderdale International Airport. Bridge Point Commerce Center also has immediate access to Florida\u2019s Turnpike and Interstates 75 and 95, connecting it to the rest of the state\u2019s major cities and beyond.<\/p>\n

Investing in Florida\u2019s industrial space<\/h2>\n

Once fully built out, Bridge Point Commerce Center will include more than 2.7 million square feet. The second phase will join the three buildings totaling 1.1 million square feet of industrial space from the project\u2019s first phase. CIBC, along with Hartford Investment Management Co<\/strong>., previously provided the construction loan for Phase I of Bridge Point Commerce Center. Kevin Carroll, partner for the Southeast region for Bridge Industrial, said in prepared remarks that the first phase\u2019s buildings are fully leased, and the company can now focus on bringing the second phase\u2019s buildings to full occupancy.<\/p>\n

Bridge Industrial has recently leased out its cold storage facility<\/a> in Hialeah, Fla., with a full-building agreement. The facility is the area\u2019s first cold storage facility and is expected to be completed in the fourth quarter of 2022. But overall, the company has been busy forming joint ventures that are aimed at investing in industrial assets across the U.S., including one with CPP Investments<\/a> in December and another with PSP Investments<\/a> a month later.<\/p>\n","protected":false},"excerpt":{"rendered":"

Phase two of the project will be completed with the new financing.<\/p>\n","protected":false},"author":883,"featured_media":1004578778,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,22251,21748,1492,21742],"tags":[51470,32789,44945,40128],"class_list":["post-1004578776","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-in-focus","category-industrial","category-miami","category-latest","tag-bridge-industrial","tag-cbre","tag-cibc-bank","tag-hartford-investment-management-company"],"acf":[],"yoast_head":"\nBridge Industrial Lands $154M for Miami Logistics Park - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Bridge Industrial has landed a $153.5 million construction loan for the second phase of Bridge Point Commerce Center in Miami Gardens, Fla.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/bridge-industrial-lands-154m-for-miami-logistics-park\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bridge Industrial Lands $154M for Miami Logistics Park\" \/>\n<meta property=\"og:description\" content=\"Bridge Industrial has landed a $153.5 million construction loan for the second phase of Bridge Point Commerce Center in Miami Gardens, Fla.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/bridge-industrial-lands-154m-for-miami-logistics-park\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-02T11:37:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T07:12:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/05\/BP-Commerce-Center-Phase-II-Progress-As-of-April-2022.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"837\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/bridge-industrial-lands-154m-for-miami-logistics-park\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/bridge-industrial-lands-154m-for-miami-logistics-park\/\",\"name\":\"Bridge Industrial Lands $154M for Miami Logistics Park - 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