16 — July 2025 — Commercial Real Estate Across America — M id A tlantic Real Estate Journal
www.marej.com
C ommercial R eal E state A cross A merica
Bridge signs 1 st lease at Bridge Point Port Everglades, FL
Achieving nearly $3M in profit for 49,625 s/f property Lucern Capital Partners sells NC industrial property
C
HARLOTTE, NC — Lucern Capital Partners , a real estate
investment firm special - izing in op- portunistic investments in light in- dustrial, small bay, and mixed- use assets
Frank Forte
Bridge Point Port Everglades
across high-growth East Coast markets, announced the sale of a 49,625 s/f industrial prop- erty in Charlotte, NC, for $8.5 million. The firm acquired the property just over two years ago for $5.6 million, achieving nearly $3 million in profit. The Charlotte property marked the firm’s first indus - trial acquisition following a strategic shift from multifam- ily investments. Home to 40 tenants, many in the automo- tive services sector, the asset was targeted for its potential to yield strong rents in an under- served segment of the market. “Our strategy was to focus on value creation through operational discipline and pro-
and distribution.” Rehoboth Terminal provides cargo handling and stevedore services at Port Everglades, with a specialization in Roll- on/Roll-off (RoRo) and contain- er cargo. Alongside Accordia Shipping, which offers weekly RoRo service to Haiti and the Dominican Republic, Rehoboth plays a key role in facilitating trade between South Florida and the Caribbean. “Our expansion into Bridge Point Port Everglades is a decisive step toward advanc- ing clean, secure, and scal- able logistics operations that strengthen commercial ties between South Florida and the Caribbean,” said Lousder Jacques, President of Accordia Shipping and Rehoboth Termi- nal. “This modern facility al- lows us to streamline traffic at key port entry points and meet the demands of high-frequency RoRo and containerized cargo. As active maritime and ter- minal operators within Port Everglades, we are focused on operational efficiency, public- private collaboration, and building a strategic foundation for long-term growth, regional impact, and continued excel- lence in service to our partners and communities.” Lori Baer , executive direc- tor of Port Everglades Asso- ciation, added, “We are proud that our outstanding Port Everglades Association mem- ber, Accordia Shipping, will take some of their operations to Bridge Industrial’s logistics complex. The location just outside the Port Everglades main gate makes this a real win-win.” Completed in 2024, Bridge Point Port Everglades is a LEED Silver-certified facility featuring 32-foot clear ceiling heights, 34 dock-high doors, two drive-in doors, a 120-foot truck court, and ample car parking. Strategically located at 2200 Northeast 7th Avenue in Dania Beach, FL. MAREJ
MIAMI, FL — Bridge Industrial (Bridge) , a pri- vately-owned, vertically inte- grated real estate operating company and investment manager, today announced it has signed the first lease at Bridge Point Port Ever- glades, its recently completed, 171,983 s/f class-A logistics facility strategically located adjacent to Port Everglades. Rehoboth Terminal, a Fort Lauderdale-based logistics company and sister company to maritime service provider Accordia Shipping, has signed a long-term lease to occupy 44,805 s/f at the state-of-the- art industrial property. The deal marks a significant mile - stone for the project and adds to Bridge Industrial’s growing list of high-quality tenants. “Bridge Point Port Ever- glades delivers the modern functionality today’s logistics users demand in one of the most strategic locations in Broward County,” said John Mejia , director of leasing, Southeast Region, Bridge Industrial. “We’re proud to welcome Rehoboth Terminal and support their continued growth as a leading logistics provider in Port Everglades.” The leasing team for the proj- ect— Sky Groden, SIOR; Ken Morris, SIOR; and Jeremy Cain of JLL —represented Bridge in the lease transaction. “Accordia’s decision to ex- pand into Bridge Point Port Everglades speaks to both the strength of the Broward County industrial market and the strategic value of this location,” said Sky Groden, vice chairman at JLL. “With demand for modern logistics space remaining high, espe- cially near major ports like Port Everglades, this move positions Accordia to continue growing its operations and efficiently servicing the Carib - bean. The facility’s unparal- leled access makes it an ideal hub for international shipping
49,625 s/f industrial property in Charlotte, NC
fessional asset management,” said Frank Forte , founder and chief investment officer at Lucern Capital Partners. “We saw an opportunity in this asset and moved quickly to unlock its potential while leaving room for future growth for the next owner.” Over the hold period, Lucern Capital Partners implemented operational and management enhancements with minimal capital investment. Professional management practices—in- cluding the conversion of ten-
ants from month-to-month arrangements to traditional lease terms and the rollout of a structured parking plan— helped stabilize the rent roll and improve rent collection timelines. A shift from gross leases to triple-net leases also helped insulate the property from expense volatility and increased its long-term value. The property was sold ahead of full stabilization—a calcu- lated decision that maximized exit value while maintaining upside for the buyer. MAREJ
Monday Props., 13 th Floor & RSN Prop. Group acquires The Summit On 401 in Fayetteville, NC
FAYETTEVILLE, NC — Monday Properties, 13th Floor Investments and RSN Property Group announce the acquisition of The Summit on 401, a 291-unit apartment community located at 3325 Oak Forest Dr. in Fayetteville. This represents the third property acquisition for Mon- day Properties and RSN Prop- erty Group in the past six months for a total of 727 units, following their purchase of Villas at Princeton Lakes in the Atlanta region in late 2024 and their recent investment in Eagle Creek Landing in the Dallas-Fort Worth market. The acquisition also marks Monday Properties’ entry into the NC multifamily market and So. Florida-based 13th Floor Investments’ second in the state this year, following its Feb. pur- chase of The Belmont, a 312-unit community in Durham. “Successfully executing on our multifamily value-add platform with this third trans- action in under six months is a notable achievement in today’s challenging real es- tate climate,” said Anthony Westreich , co-chief executive
The Summit on 401
officer and founding partner, Monday Properties. “The ac- quisition of The Summit on 401 reflects Monday Proper - ties’ commitment to growing in regions with strong fundamen- tals. By implementing targeted improvements at the property, we will be positioned to deliver exceptional value to our resi- dents and investors alike.” “The acquisition of The Sum- mit on 401 aligns with our strat- egy of investing in value-add multifamily properties located in markets with strong underly- ing fundamentals,” said David
Resnick , chief investment of- ficer at 13th Floor Investments. “Fayetteville’s economic growth and demand drivers make this a compelling addition to our expanding portfolio.” “Our team’s deep market knowledge enabled us to iden- tify The Summit on 401 as a property with tremendous potential, creating substantial upside for our investors while contributing to Fayetteville’s dynamic housing landscape,” said Reed Goossens , founder and chief executive officer, RSN Property Group. MAREJ
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