A Morgan Stanley fund has offloaded Bridge Point Powerline Road, a 467,000 square foot industrial park in Pompano Beach. CenterPoint Properties acquired the three-building complex for $124.5 million.
The project was developed by Bridge Industrial on a site near Copans Road. The park was last sold in 2019 for $68.95 million. That sale was part of a $264 million portfolio sale involving Morgan Stanley and Bridge Industrial.
It features one-story warehouses with 32-foot clear heights, as well as a combined 12 grade-level doors and 126 dock-high doors.
Located at 1971–1991 N. Powerline Road, the campus occupies a 36.7-acre site within an Opportunity Zone in the Fort Lauderdale, Fla., market. The location is near Interstate 95 and Florida’s Turnpike.
TAPinto.net reports real estate analysts say the $266-per-square-foot price point reflects a broader trend of rising industrial rents across Broward County.
