Bridge Industrial to Develop Two-Building Industrial Campus in Miami
Bridge Industrial, a leading privately owned real estate firm, has initiated a new industrial development project in Miami, Florida. The company plans to transform the former headquarters of logistics giant Ryder System into a modern, two-building industrial campus.
Located at 11690 Northwest 105th Street, the 16.8-acre site will be home to Bridge Point Flagler Station, featuring two LEED-certified industrial buildings totaling 326,448 square feet. Both buildings will boast 32-foot clear heights, a shared 180-inch truck court, and ample trailer parking. The larger two buildings, spanning 197,643 square feet, will include office space, dock doors, and parking. The smaller building, at 128,805 square feet, will also offer office space, dock doors, and parking, along with drive-in access.
A key advantage of Bridge Point Flagler Station is its strategic location within a 30-mile radius of major transportation hubs, including Fort Lauderdale-Hollywood International Airport, PortMiami, Miami International Airport, and Port Everglades. This proximity to key infrastructure will enhance the site's appeal to logistics and distribution companies seeking efficient operations.
Kevin Carroll, Partner of the Southeast region at Bridge Industrial, expressed enthusiasm for the project, highlighting its potential to drive economic growth and job creation in the local community. The company's commitment to sustainability is evident in its pursuit of LEED certification for both buildings.
Miami's industrial market has demonstrated resilience despite increasing vacancy rates in the second quarter of 2024. Positive absorption figures of 531,000 square feet for the quarter and over a million square feet for the first half of the year indicate continued demand for industrial space.
Bridge Industrial is developing Bridge Point Flagler Station on a speculative basis, demonstrating confidence in the Miami market. Vertical construction is slated to commence later in 2024, with completion expected in the third quarter of 2025.
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Conclusion
Bridge Industrial's new development in Miami underscores the ongoing demand for industrial space in South Florida. The project's focus on sustainability and strategic location positions it well to attract tenants in the logistics and distribution sectors. As the industrial market continues to evolve, projects like Bridge Point Flagler Station will play a crucial role in supporting economic growth and job creation in the region.
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