The Bridge Point Cold Logistics Center, a state-of-the-art cold storage warehouse located in Hialeah, recently sold for $113 million. The 312,103-square-foot facility was purchased by Boxer US Inc., an industrial development venture owned by Spanish billionaire Amancio Ortega. The sale equated to $362 per square foot and included the full building which is currently leased to FreezPak, a leading third-party food logistics company.
In late 2022, PGIM Real Estate and Bridge Industrial joined forces to develop this cutting-edge warehouse on a 20-acre site. This project was part of their larger national cold-storage investment program worth $150 million with plans to acquire assets totaling $400 million.
This highly advanced refrigerated warehouse boasts the ability to store goods at temperatures ranging from 55 degrees down to negative-10 degrees Fahrenheit. Its strategic location in South Florida makes it one of the most sought-after facilities in the region for businesses requiring temperature-controlled storage solutions.
The article “PGIM and Bridge Industrial Sell Cold Storage Warehouse for Record-Breaking Price” originally appeared on Connect Commercial Real Estate.
