Chicago & Midwest + Downtown + Industrial | December 20, 2021

Bridge Point Doral Miami FL Bridge Industrial

Bridge Industrial Forges Development JV with CPP Investments

Chicago-based Bridge Industrial and Canada Pension Plan Investment Board (CPP Investments) said Monday they had formed a joint venture to develop industrial properties in several core markets across the U.S. They have allocated US$1.1 billion in equity to the JV, with CPP Investments owning a 95% stake and Bridge owning the remaining 5%.

Steve Poulos, founder and CEO of Bridge, said the JV would allow “to continue to scale our infill portfolio in our core U.S. markets. Demand for industrial space continues to outpace supply in infill markets across the U.S., supporting Bridge and CPP Investments’ shared vision of the long-term value and opportunity in the industrial sector.”

The venture was seeded with a 175-acre site within Miami’s Airport West submarket, located in the city of Doral. The development will include six buildings that will total 2.6 million square feet of warehouse space once completed.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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