Bridge Industrial Nabs $57M to Convert Old Miami-Dade Offices Into Warehouses

Offices aren’t just being turned into apartments. Bridge Industrial nabbed a $56.7 million construction loan to convert an old office property in Doral, Fla., into warehouses. 

Associated Bank supplied the financing, which covers a 16-acre site at 7775 Northwest 48th Street, just west of the Palmetto Expressway and northwest of Miami International Airport. The property includes eight two-story buildings that date to 1972, which together total 202,680 square feet. 

The new financing will go toward building a two-warehouse logistics center, totaling 268,702 square feet, according to filings to Miami-Dade County. The largest building will span 154,945 square feet and the other 113,757 square feet. 

Construction has been underway since October. Delivery is scheduled for the first quarter of 2027.

“We are setting a new standard for how obsolete office parks and other underutilized properties can be reimagined in Miami-Dade,” Kevin Carroll, a partner at Bridge Industrial’s southeast division. “This project will deliver a true community asset, bringing new jobs, fresh investment, and state-of-the-art facilities to support the region’s continued growth.”

The Illinois-based developer purchased the asset for $45.2 million in 2024, per property records. 

The development marks Bridge Industrial’s second office-to-industrial conversion in Miami-Dade County. In 2023, it purchased the former headquarters of Ryder Systems near Medley for $42 million and redeveloped the 17-acre property into a 326,000-square-foot logistics complex.

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