Bridge Industrial Lands $117M for four-building, 714K SF Bay Area industrial project

11/11/2024

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CPE

• Subcategory: Capital Markets: Debt, Industrial: Distribution, Industrial: Logistics, Industrial: Warehouse

• Tag: Closing | New Construction

• Additional Filters-Subcategory: Capital Markets: Debt-Construction Loan

• Company: Bridge Industrial, Bank OZK (NASDAQ: OZK)

Bridge Industrial has secured a $117 million construction loan for a four-building, 714,491-square-foot industrial project in San Jose, Calif., according to Santa Clara County records. Bank OZK issued the funds with First American Title Insurance Co. as trustee. The developer expects to complete Bridge Point San Jose in 2025’s fourth quarter.

Bridge acquired the 32.8-acre site for $134 million in 2021, leveraging an $81.2 million acquisition loan from Invesco. Plans at the time called for the demolition of the existing campus prior to constructing the new industrial park.