FORT LAUDERDALE, FL—Chicago's BridgeDevelopment continues snapping up South Florida land. Thecompany just purchased another 9.7 acres for a new speculativeindustrial facility called Bridge Point Davie inDavie, FL.

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“This is our fourth major project in South Florida,” says Bridgeprincipal Kevin Carroll. “We have been pleasedwith the reception of our other spec projects and the need forclass A industrial facilities. Major expansions toinfrastructure in the region including the airport and the PortEverglades are more positive signs of growth in an already growingarea.”

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Bridge will develop a 145,800-square-foot class Aindustrial facility with 32-foot-clear ceilingheight on the land. The site has strong access to Interstates 595and 95, Florida's Turnpike, Fort Lauderdale-Hollywood InternationalAirport, and the Port Everglades.

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Bridge expects the industrial building to comeonline by the second quarter of 2015. The developer is targetingnew-to-market or expanding businesses of 20,000 to 145,800 squarefeet looking to occupy new construction.

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Bridge has done its homework, reporting the South Browardindustrial market continues to strengthen with moderate growth and7.1% vacancy. The Fort Lauderdale Airport/Dania submarket is evenstronger, with 4.2% vacancy. Bridge points out that this submarketis attracting new international business with the Port Evergladesinfrastructure improvements.

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This is Bridge Development's fourth transaction in South Floridain less than a year—and its second in the past 30 days. Bridgerecently acquired land to build Bridge Point Crossroads West, a242,000-square-foot, single Ccass A specindustrial facility in suburban Miami, as well astwo contiguous parcel acquisitions for the construction of the189,000-square-foot Bridge Point Marina Mile and the230,000-square-goo Bridge Point Port 95. Bot are class A industrialfacilities in Dania Beach, FL.

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