DALLAS, TX - October 3, 2022 - Thanks to its boots-on-the ground approach and strong local relationships stemming from its newly established regional headquarters in Dallas, Bridge Logistics Properties (“BLP”), a subsidiary of Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge”), has acquired 804 W. Shady Grove Road located in Grand Prairie, Texas.
The 203,430 SF Class A building is a recently delivered, highly functional asset located in DFW’s infill Great Southwest (GSW) submarket. Situated on 12 acres, the building offers modern specs including a 32’ clear height, 180’ truck court, 42 dock high doors, two ramps, 49 trailer storage spaces and a 0.45 parking ratio. With a front load configuration, the building is divisible into two suites.
“We are thrilled to add this brand new, Class A asset to our growing portfolio of infill logistics properties in global gateway markets. This acquisition is a testament to our team’s deep local relationships and focus on acquiring functional logistics assets in supply-constrained markets,” said Connor Tamlyn, Managing Director in BLP’s Dallas, Texas office.
The seller was represented by Kurt Griffin and Nathan Orbin of Cushman & Wakefield.
BLP considers Dallas Fort-Worth to be a key global gateway logistics market in the U.S., and has established one of its four regional headquarters in the city. Beyond Dallas, BLP has a geographic presence via three other offices - Los Angeles, New Jersey and Atlanta. The company was established in June 2021 when Jay Cornforth, Chief Executive Officer, and Brian Gagne, Chief Investment Officer, left Brookfield to start the logistics division of Bridge Investment Group. The BLP team is fast-growing and consists of 33 dedicated investment and business professionals across several disciplines.
The team successfully works to combine its operational and development DNA with deep customer, owner and broker relationships, which all played a key role in the successful acquisition of 804 W. Shady Grove Road and other key properties where demographic growth and shifts in consumer behaviors are dramatically increasing the demand for infill assets.
Since the formation of BLP, Connor Tamlyn and the Central team have already acquired three properties and four development sites totaling 1,338,871 square feet, and are managing a growing pipeline of assets currently under agreement.
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About BLP
Bridge Logistics Properties (“BLP”) is a vertically integrated logistics real estate investment manager led by tenured, multi-disciplinary real estate veterans with experience navigating several economic environments over the past three decades. Its founding members and leadership team employ a disciplined investment strategy that is both cycle-tested and innovative. BLP is a value-focused investment manager that is highly collaborative with its institutional capital partners. Leveraging its deep local relationships and global vision, BLP uncovers and executes value transactions in targeted coastal and gateway markets in the U.S. and abroad. Across its four offices – in the Northeast, West, Southeast and Central United States – BLP has proven regional experience in acquisitions, opportunistic repositioning and development of global logistics assets. Its steadfast focus on innovation and sustainable development promotes solutions that are both profitable and socially responsible. For more information, visit Bridge Logistics Properties.
About Bridge Investment Group
Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $38.8 billion of assets under management as of March 31, 2022. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease and real estate-backed credit.
