Bridge Industrial plans 270K sf of warehouses at office site in Doral

"Bridge Industrial plans to replace a corporate campus in Doral into nearly 270,000 square feet of warehouses, marking continuing office-to-industrial redevelopment in South Florida. Across the tri-county region, developers are seizing on aging suburban office complexes with plans for new projects, primarily warehouses, with some planning residential developments. Although office leasing has boomed in Miami's Brickell and downtown West Palm Beach, older office buildings have felt the sting from remote work."

"Bridge, led by Steve Poulos, with Kevin Carroll leasing the Southeast region, paid $45.4 million for the site last year. The selling entity, managed by Richard and Warren Zinn in Miami, had paid $7.8 million for Corporate Park of Doral in 2010, records show. The existing complex, called Corporate Park of Doral, consists of eight buildings spanning a combined 192,800 square feet. It was completed in the 1970s, according to LoopNet."

"Bridge is a prolific South Florida industrial developer with 11 million square feet of completed and planned projects in the tri-county region, the release says. This marks Bridge's second office-to-industrial project in Miami-Dade County. Last year, the firm scored a $53 million construction loan to develop the 326,400-square-foot Bridge Point Flagler Station with two warehouses on the site of Ryder Systems' former headquarters at 11690 Northwest 105th Street in an unincorporated area of the county."

Bridge Industrial will replace an existing 16-acre Corporate Park of Doral site at 7775 Northwest 48th Street with Bridge Point Doral 826, two warehouses totaling 268,700 square feet. The developer paid $45.4 million for the property last year; the seller had purchased the complex for $7.8 million in 2010. The existing eight-building office campus totals 192,800 square feet and dates to the 1970s. Site preparations are underway and completion is expected in third-quarter 2027. Bridge has developed and planned roughly 11 million square feet of industrial space in the tri-county region and this is its second office-to-industrial conversion in Miami-Dade County.

Read at therealdeal.com