JV to Develop 312K-SF Cold Storage Facility in Hialeah
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.”
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.