July 14, 2020
Joint venture partners Bridge Development Partners and PGIM Real Estate have acquired a 20-acre site in Hialeah with plans to develop the Bridge Point Cold Logistics Center, a 312,103-square-foot speculative cold storage facility at the site.
The facility will be the first cold storage project to be delivered on a speculative basis in the region. The joint venture launched a $150 million national cold-storage investment program in 2019, targeting $400 million in assets. The project is slated to be delivered in the fourth quarter of 2021.
“We are pleased to have acquired this prime development site for our future Bridge Point Cold Logistics Center, which represents the first-ever cold storage project to be delivered in South Florida on a speculative basis,” said Kevin Carroll, partner at Bridge. “We look forward to delivering another world-class logistics center to meet steadily rising demand.”
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