According to a report, joint-venture partners Bridge Development Partners and PGIM Real Estate acquired a 20-acre site in Hialeah, Fla., with plans to develop the Bridge Point Cold Logistics Center, a 312,103 ft2 cold-storage facility at the site.

According to the companies, the facility will be the first cold-storage project to be delivered on a speculative basis in the region. The project is scheduled to be delivered in the fourth quarter of 2021.

The joint venture launched a $150 million national cold-storage investment program in 2019.