{"id":1004719907,"date":"2024-07-03T03:56:15","date_gmt":"2024-07-03T11:56:15","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004719907"},"modified":"2024-07-03T05:47:12","modified_gmt":"2024-07-03T13:47:12","slug":"bbx-logistics-jv-eyes-miami-area-redevelopment","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/bbx-logistics-jv-eyes-miami-area-redevelopment\/","title":{"rendered":"BBX Logistics JV Eyes Miami-Area Redevelopment"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Park_at_Davie_Rendering-1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"900\" data-attachment-id=\"1004719911\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/bbx-logistics-jv-eyes-miami-area-redevelopment\/park_at_davie_rendering-1\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Park_at_Davie_Rendering-1.jpg\" data-orig-size=\"1200,900\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Park_at_Davie_Rendering (1)\" data-image-description=\"&lt;p&gt;Rendering of property at 6900 W. State Road 84, Davie, Fla.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Park at Davie is currently pending the Town Council\u2019s approval. Image courtesy of BBX Logistics Properties&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Park_at_Davie_Rendering-1.jpg?w=1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Park_at_Davie_Rendering-1.jpg\" alt=\"Rendering of property at 6900 W. State Road 84, Davie, Fla.\" class=\"wp-image-1004719911\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Park_at_Davie_Rendering-1.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Park_at_Davie_Rendering-1.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Park_at_Davie_Rendering-1.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/07\/Park_at_Davie_Rendering-1.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption class=\"wp-element-caption\">The Park at Davie will comprise two logistics buildings. <em>Image courtesy of BBX Logistics Properties<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>The joint venture between BBX Logistics Properties, a subsidiary of BBX Capital Inc., and FRP Development Corp. plans to develop The Park at Davie, a two-building, Class A, 182,000-square-foot logistics campus in Davie, Fla.<\/p>\n\n\n\n<p>The partnership purchased the Signature Grand, a 101,812-square-foot retail facility, and intends to demolish it to make room for the two logistics buildings. Map Legacy Inc. was the asset\u2019s former owner, according to CommercialEdge data.<\/p>\n\n\n\n<p>Built in 1995, the Signature Grand held social gatherings, primarily focusing on weddings\u2014of which it hosted more than 12,000\u2014and corporate events. North of 2 million people have walked its halls in nearly three decades. However, the venue has been closed since earlier this year.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/how-logistics-developers-can-surmount-inventory-hurdles\/\">How Logistics Developers Can Surmount Inventory Hurdles<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Davie Assistant Town Administrator Phillip R. Holste pointed out that the joint venture has submitted its Ware Malcomb-designed site plan for The Park at Davie, as reported by the <em>South Florida Sun Sentinel<\/em>. The project is currently awaiting the Planning and Zoning Board\u2019s recommendation, as well as the Town Council&#8217;s approval. The developers expect to break ground in this year\u2019s fourth quarter and anticipate completion in 2025.<\/p>\n\n\n\n<p>Located at 6900 W. State Road 84, the 11.3-acre site is less than 1 mile away from Interstate 595 and some 3 miles from U.S. Route 441. The<a href=\"https:\/\/www.commercialsearch.com\/news\/the-case-for-last-mile-facilities\/\"> last-mile redevelopment<\/a> will operate roughly 10 miles west of the Fort Lauderdale-Hollywood International Airport and Port Everglades.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-bbx-logistics-industrial-ventures\">BBX Logistics&#8217; industrial ventures<\/h2>\n\n\n\n<p>BBX Logistics Properties focuses primarily on industrial speculative and build-to-suit developments throughout markets in Florida and the Eastern U.S.<\/p>\n\n\n\n<p>One of its other projects also involves a partnership with FRP. Dubbed The Park at Lakeland, the industrial development will encompass roughly 213,500 square feet of logistics space on a 22.5-acre site in Lakeland, Fla.<\/p>\n\n\n\n<p>Last month, the company <a href=\"https:\/\/www.commercialsearch.com\/news\/bbx-logistics-pccp-break-ground-on-miami-area-industrial-park\/\">broke ground on The Park at Delray<\/a>. Upon completion, the 40-acre campus in Delray Beach, Fla., developed in a joint venture with PCCP, will comprise three facilities totaling north of 670,000 square feet. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-metro-miami-s-industrial-pipeline\">Metro Miami&#8217;s industrial pipeline<\/h2>\n\n\n\n<p>Greater Miami\u2019s industrial supply pipeline held just short of 7.9 million square feet of under-construction space as of July, according to CommercialEdge data.<\/p>\n\n\n\n<p>Terreno Realty Corp.\u2019s Countyline Corporate Park Phase IV Building 40 recently <a href=\"https:\/\/www.commercialsearch.com\/news\/terreno-realty-completes-186-ksf-facility-near-miami\/\">exited the pipeline<\/a>. The 186,000-square-foot industrial facility, part of a 121-acre campus developed by VS Real Estate in Hialeah, Fla., came online in May.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The partnership plans to replace a retail property with a logistics campus.<\/p>\n","protected":false},"author":3471,"featured_media":1004719911,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21783,1492,21742,32781],"tags":[52171,41087],"class_list":["post-1004719907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-investment","category-miami","category-latest","category-southeast","tag-bbx-logistics-properties","tag-frp-development-corporation"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>BBX Logistics JV Eyes Miami-Area Redevelopment - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"BBX Logistics and FRP Development have purchased the Signature Grand in Davie, Fla. 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