Bain Capital Buys South Florida Industrial Campus for $52M

Kurv Industrial, formerly called Bridge Industrial, has sold a warehouse campus in Pompano Beach, Fla., for $52 million, property records show. 

Bain Capital Real Estate purchased the 17-acre asset, called Bridge Point Pompano Beach Commerce Park. The property includes three warehouses totaling 380,496 square feet. All were built in the 1980s and 1990s. 

The campus, which includes 24-foot clear heights and a mix of dock-high and grade-level loading, sits about equal distance between the Florida Turnpike and Interstate 95 between 1541 and 1571 North Powerline. 

APEX Capital Realty’s Ovy Anghel brokered the sale. A representative for Bain Capital and Kurv Industrial did not immediately respond to requests for comment. 

Kurv Industrial, which rebranded in March, purchased the property for $46.3 million. Despite the sale, the Rosemont, Ill.-based company remains a major industrial investor in South Florida.

Earlier this month, the company bought a new, 435,201-square-foot distribution center, also in Pompano Beach, for $220 million. The transaction remains South Florida’s largest industrial sale this year.

Boston-based Bain Capital has made investments in Florida, though its activity has largely focused on asset classes outside the industrial sector. Last year, it purchased ten open-air retail centers across Florida and South Carolina, most of which are anchored by Publix, for approximately $395 million. In March, the firm also supplied $118 million to refinance Fisher Brothers’ new multifamily building in Miami’s Wynwood.

Julia Echikson can be reached at jechikson@commercialobserver.com.