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Bridge Development JV buys business park in Opa-locka, Fla., for $126M

A joint venture between Bridge Development Partners LLC and BentallGreenOak purchased the majority of Ave Aviation & Commerce Center in Opa-locka, Fla., for $126 million, the South Florida Business Journal reported.

The 100%-occupied business park at 14350 NW 56th Court sits on land leased from Miami-Dade County. A company led by Ernesto Cambo of CPF Investment Group sold an assignment of lease to the joint venture.

The deal covers roughly 50 acres, including a 478,000-square-foot USPS distribution facility, a car sales lot for Off Lease Only, and three industrial buildings encompassing 470,000 square feet, according to the report. The property sold contains rights to an additional 1 million square feet of industrial- and aviation-related development.