Developers secure $67 million in construction financing for Hialeah cold storage building

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A joint venture between Bridge Development Partners from Chicago and PGIM Real Estate has secured $67 million in construction financing for Bridge Point Cold Logistics Center in Hialeah.

The 312,103-sq. ft. structure will be situated on 20.8 acres at NW 162nd St. and NW 102nd Ave., about 20 miles northwest of PortMiami, REBusinessonline reports.

The Bridge-PGIM joint venture plans to break ground on the project this month for delivery in late 2021.

Bridge Development says Bridge Point Cold Logistics Center will be the first cold storage facility built on a speculative basis in South Florida. The project is also the first cold storage project between Bridge and PGIM, which launched a $150 million program last year for the development and redevelopment of cold storage facilities nationwide, REBusiness says.

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