Cushman & Wakefield Arranges $71M Industrial Sale in Florida

Rhea-AI Summary

Cushman & Wakefield (NYSE: CWK) has successfully arranged the sale of Bridge Point Miramar, a rear-load distribution center in Miramar, Florida, for $71.55 million. The facility measures 304,428 square feet and features significant amenities such as 32’ clear height and 46 dock-high doors. The property’s strategic location near major transportation routes and amenities adds to its investment appeal, attracting substantial interest from investors. The transaction was supported by a team from Cushman & Wakefield, representing the seller, Bridge Industrial.

Positive

• Sold Bridge Point Miramar for $71.55 million, indicating strong market demand.
• 304,428 square feet with modern amenities enhances property appeal.
• Strategically located near major transportation routes and amenities, attracting investor interest.

Negative

• None.

MIRAMAR, Fla.--(BUSINESS WIRE)-- Cushman & Wakefield (NYSE: CWK) announced that the commercial real estate services firm has arranged the sale of Bridge Point Miramar, a 304,428-square-foot (sf), rear-load distribution center located in Miramar, Florida. The final sale price was $71.55 million.

Mike Davis, Rick Brugge, Dominic Montazemi and Rick Colon of Cushman & Wakefield, with assistance by Chris Metzger, Matt McAllister and Rick Etner, represented the seller, Bridge Industrial, a privately-owned, vertically integrated real estate operating company and investment manager, in the transaction. Cabot Properties, a private partnership that acquires, develops, and operates logistics real estate in world-class cities, acquired the property. Metzger, McAllister and Etner have been retained to lease the property.

“This exceptional facility drew significant investor demand,” Davis said.

Located at 15501 SW 29th Street, the recently renovated building features tilt-up concrete construction, 32’ clear height, 50’ x 50’ column spacing, 46 dock-high doors, ESFR fire suppression and a 1.2 per 1,000 sf parking ratio.

“The proximity to the ports of Ft. Lauderdale and nearby amenities provide a strategic advantage for tenants,” Montazemi added.

The property’s location allows for convenient access to walkable amenities, restaurants and major retailers as well as direct accessibility to the area’s most important transportation arteries – Interstate 595, Interstate 75 and Florida’s Turnpike.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and 60 countries. In 2020, the firm had revenue of $7.8 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210901005613/en/

Savannah Durban

+1 404 853 5371

savannah.durban@cushwake.com

Source: Cushman & Wakefield

FAQ

What was the sale price of Bridge Point Miramar by Cushman & Wakefield?

The sale price of Bridge Point Miramar was $71.55 million.

What is the size of the Bridge Point Miramar distribution center?

The Bridge Point Miramar distribution center measures 304,428 square feet.

Who acquired the Bridge Point Miramar property?

Cabot Properties acquired the Bridge Point Miramar property.

What are the key features of the Bridge Point Miramar facility?

Key features include a clear height of 32’, 46 dock-high doors, and a tilt-up concrete construction.

What strategic advantages does the Bridge Point Miramar offer?

Its location provides convenient access to major transportation arteries and local amenities.