B
ridge Industrial has expanded its presence in Miami-Dade County with the acquisition of Corporate Park of Doral for $45.4 million. The 15.7-acre business park at 7705 Northwest 48th Street comprises eight buildings with a total of 192,800 square feet of industrial space, purchased by an affiliate led by CEO Steve Poulos. This deal translates to approximately $235 per square foot.
The seller, managed by Richard and Warren Zinn in Miami, had acquired the property for $7.8 million in 2010. The warehouses, completed in 1972, are situated near Miami International Airport. Bridge's latest acquisition follows a $53 million construction loan secured for the redevelopment of Ryder System's former headquarters site in Miami-Dade County.
Bridge is also developing several other projects in the area, including Bridge Point Doral, a 2.6-million-square-foot complex on Northwest 107th Avenue and Northwest 41st Street. The firm recently completed an industrial facility near Miami-Opa-Locka Executive Airport and acquired a site for $15.6 million in 2022.
The South Florida industrial market is experiencing a strong start to the fourth quarter, with several major trades totaling over $200 million. Ares Management made the largest industrial purchase of 2024 so far, acquiring Miami Midway Park for $147 million. Other notable deals include East Capital Partners' acquisition of a warehouse complex near Aventura for $48 million and SmartStop's purchase of a self-storage facility in North Miami for $30.8 million.
