Bridge Development Partners Makes First Value-Add Play in South Florida with Purchase of Miramar Warehouse
Bridge Development Partners, one of South Florida’s most active industrial real estate developers, announced the acquisition of a 304,428-square-foot, Class-A, rear-load distribution building located at 15501 SW 29th Street in Miramar. Bridge will immediately upgrade the property, Bridge Point Miramar, with a significant renovation.
Bridge Development purchased the property from Sherm Realty Corp., an affiliate of Apotex Corp. A Cushman & Wakefield team led by Vice Chairman Mike Davis and Executive Directors Chris Metzger and Rick Etner, Jr., with the firm’s National Industrial Advisory Group, arranged the sale, representing the seller in the transaction.
“While traditionally we develop our South Florida industrial properties, we couldn’t pass up this prime, value-add opportunity located in the heart of Southwest Broward County,” said Kevin Carroll, Partner, Southeast Region of Bridge Development Partners. “This modern distribution facility has all the right ingredients in place—a prime location, a first-class corporate campus environment and modern features and amenities. Upon the completion of our multimillion-dollar investment to further enhance this facility’s offerings, Bridge Point Miramar will be a top choice for industrial users who require easy access to local, regional and international markets.”