Bridge Development Partners has secured $78.24 million in financing to develop Bridge Point AVE at Miami-Opa Locka Executive Airport.
The three-building, 589,887-sq.-ft. industrial business park is more than 72 percent preleased and on schedule to be delivered in the third quarter of 2021.
BRIDGE acquired the nearly 50-acre, Bridge Point AVE development site in late 2019. Located within the master-planned AVE, Aviation and Commerce Centre, Bridge Point AVE is a three-building, Class-A industrial business park. Building 1, located at 5590 NW 145th St., consists of 199,800 sq. ft.; Building 2, located at 14150 NW 56th Ct, consists of 110,588 sq. ft.; and Building 3, located at 14250 Aviation Drive, consists of 279,499 sq. ft.
The loan was issued by Canadian Imperial Bank of Commerce and secured by Steve Roth of CBRE’s debt and structured finance team.