Colliers South Florida Secures 170,000 SF Lease for Bridge Point Riverbend
Long-term industrial lease with ShipMonk brings property to 77% pre-leased
Fort Lauderdale, November 20, 2018 – The Colliers International South Florida Industrial team of Erin Byers and Steven Wasserman has represented a joint venture of Bridge Development and Elion Partners in a 170,000 square foot lease at the newly-developed Bridge Point Riverbend in Fort Lauderdale. Tony Hoover of CBRE represented technology-focused fulfillment provider ShipMonk in the new lease which highlights the demand of e-commerce with fulfillment centers to be located at the “last mile.”
Located at 201 NW 22nd Avenue at the intersection of I-95, Bridge Point Riverbend is now at 77% pre-leased as it nears completion this month. The Class A warehouse has approximately 51,000 remaining for lease and features 32’ clear height, 54’ column spacing and a 125’ private truck court. The property offers immediate proximity to Port Everglades and Fort Lauderdale-Hollywood International Airport.
“Industrial product is becoming more sophisticated while site location and access remain paramount,” said Colliers’ Vice President of Industrial Services Erin Byers, who is leasing the property along with Colliers Executive Vice President Steven Wasserman. “Bridge Point Riverbend offers both for ShipMonk, ultimately creating an enhanced service experience and speed for their own customers.”
Since late 2015 when ShipMonk moved into a 23,000 square foot facility in Pompano Beach, the company has scaled rapidly, prompting moves to a 90,000 square foot facility in Deerfield Beach and now, a planned 2Q 2019 occupancy into 170,000 square feet at Bridge Point Riverbend.
Broward County saw 874,100 square feet absorbed in the third quarter. While South Florida has become an appealing new market for companies to enter, much of the absorption has been generated by organic growth of companies – like ShipMonk – rapidly expanding.
The strength of the economy and the strong population growth in South Florida remain key drivers of industrial product. Furthermore, the demand from e-commerce, logistics, food and retail companies is propelling the demand of industrial product as users seek distribution centers close to the end-consumer in densely populated areas.