Bridge Development Partners' Fort Lauderdale industrial bet is paying off.
The firm has secured its first significant pre-lease with Floor & Décor at the two-building, 307k SF distribution center called Bridge Point I-95 at 2200 West Sunrise Blvd. The flooring retailer is taking roughly 83k SF at the facility and is expected to move in early next year.
A latecomer to the South Florida industrial market, Bridge Development has already built 1M SF since 2012, with another 1M SF underway for delivery soon.
“Since establishing a foothold in South Florida four years ago, key market fundamentals have remained strong, fueling our brisk speculative development and leasing pace," says Bridge Development's Kevin Carroll.
CBRE's Tony Hoover and Larry Genet brokered the deal for the developer, while SRA's Melody Spano and Mercedes Loftus brokered for Floor & Décor. Officials say the retailer was attracted to Bridge Point given its frontage along I-95, where some 300,000 cars pass each day; an important factor given that Floor & Décor plans to use the space not only for distribution, but also as a showroom.
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