B
ridge Industrial secured a $53 million construction loan to redevelop Ryder System's former headquarters site in Miami-Dade County into a logistics complex. The project, Bridge Point Flagler Station, will feature two buildings totaling 326,400 square feet at 11690 Northwest 105th Street. Completion is expected by the third quarter of next year. Caisse de dépôt et placement du Québec provided the loan.

    Bridge, a prolific South Florida industrial developer, acquired the 16.8-acre site from Ryder for $42.1 million last year. The company has invested in over 740 acres across the tri-county region since 2012 and has completed or is developing 11 million square feet of space. Bridge's CEO Steve Poulos and Southeast Region partner Kevin Carroll are leading the project.

    The redevelopment trend in South Florida's office market continues, driven by companies downsizing due to remote work. In Boca Raton, a mixed-use project is planned on an Office Depot campus, featuring over 500 apartments and a gym. The industrial market remains strong despite economic uncertainty, with recent deals including a $95 million loan for the Palmetto 74 Logistics Center in Medley and a $31.1 million construction loan for a warehouse in Delray Beach.