Leasing Velocity Continues as the Building Nears 90 Percent Occupancy Less Than Two Months After Completion
Bridge Development Partners, LLC announced today that PAS Cargo USA, Inc. has signed an 88,364-square-foot lease at Bridge Point Crossroads West (BPC West).
Bridge was represented by Cushman & Wakefield Executive Director Wayne Ramoski and Associate Director Gian Rodriguez. PAS Cargo USA, Inc. was represented by Audley Bosch, Senior Vice President at Jones Lange LaSalle.
Miami-based PAS was founded in 2002 and has quickly grown to one of the largest freight companies serving the Caribbean and Latin America. PAS is relocating from its current Doral location to capitalize on the modern finishes and amenities available at BPC West.
PAS Cargo’s lease marks the fourth consecutive month Bridge Development Partners has landed a large tenant at one of its four South Florida Industrial Projects. In July, ACE Transport Miami became the first tenant at BPC West, signing a 121,656-square-foot deal at the Hialeah Gardens project. Pet Supermarket and Challenge Warehouse leased 97,000 square feet and 48,000 square feet, respectively, at Bridge Point Davie.
“It’s been a busy summer for us,” said Kevin Carroll, Bridge Development’s Principal in Miami. “With the signing of PAS Cargo, we’ve amassed in excess of 355,000 square feet in lease transactions at Bridge Point Crossroads West and Bridge Point Davie alone.”
“Now that our first building at BPC is almost fully leased and the area’s roadway infrastructure continues to progress, prospective tenants have begun to focus their attention on our next three buildings,” added Ramoski. “All in, we plan to build 920,000 square feet between four buildings. The remaining 675,000 square feet of which will be completed by the end of Q1 2017.”
Adjacent to Bridge Point Crossroads West is Bridge Point Crossroads East, a two-building, 420,000-square-foot complex scheduled for shell completion at the end of 2016. South of that is Bridge Point Crossroads South, a 255,000-square-foot stand-alone building, which is set for March 2017 delivery and closely mirrors the physical characteristics and site attributes of BPC West.
For more information on Bridge Point Crossroads, visit www.bpcmiami.com.
About Bridge Development Partners
Bridge Development Partners, LLC (www.bridgedev.com) is a privately owned firm focused on the development and acquisition of industrial and office real estate in the South Florida, Northern New Jersey, Los Angeles and Chicago regions. Bridge develops investment-grade buildings and business parks, and acquires existing Class A and Class B properties that provide opportunities to add value. Since its inception in 2000, Bridge has successfully acquired and developed more than 16 million square feet of office and industrial buildings/projects valued at more than $1.7 billion. In 2012, the company formed a strategic joint venture with Dallas-based Akard Street Partners, L.P., an investment partnership operated by Hunt Realty Investments, Inc.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com
