Freezer Warehouse In Miami-Dade Sells For $113 Million

Bridge Point Cold Logistics Center, a cold storage warehouse in Hialeah, sold for $113 million.

H-21 Cold LLC, a partnership between Chicago-based Bridge Industrial and Newark, New Jersey-based PGIM Real Estate, sold the 312,103-square-foot freezer warehouse at 3995 W. 108th Street to Boxer US Inc., managed by Patricia Alonso Gonzalez of Ponte Gadea, an industrial development venture of Spanish billionaire Amancio Ortega. The price equated to $362 per square foot.

Bridge Industrial and PGIM built the warehouse on the 20-acre site in late 2022. They leased the full building to New Jersey-based FreezPak, a third-party food logistics company.

“The successful disposition of Bridge Point Cold Logistics Center marks a significant milestone for this partnership,” stated Kevin Carroll, partner in the southeast region of Bridge Industrial. “This project underscores our commitment to developing premier cold storage facilities that meet the evolving needs of the market. As we continue to expand our portfolio, we remain focused on delivering high-quality, strategically located industrial real estate assets that cater to the dynamic demands of modern supply chains.”

This is said to be one of the most advanced refrigerated warehouses in South Florida, with the capability to store goods at 55 to negative-10 degrees.

Meanwhile, Boxer US acquired a different cold storage warehouse in Hialeah for $43.3 million in June.

Source: SFBJ