Chicago-based Bridge Development Partners, LLC has announced the opening of its third office and continued East Coast expansion with a new office in Parsippany, New Jersey. Jeffrey J. Milanaik and John Porcek both join the firm as Principals overseeing operations of the new office.
This is Bridge Development’s third office since its inception 13 years ago. Its second office outside of Chicago was opened in Miami, Florida, in 2009. To date, Bridge has developed and/or acquired more than 7.8 million square feet of investment-grade industrial and office buildings, and it currently has more than $350 million of new industrial developments under way.
“We have been pursuing the right team to oversee our Northern New Jersey expansion for some time and are excited to have Jeff and John on board. They have already identified numerous development opportunities in the market,” said Bridge Principal Tony Pricco. “We believe the Bridge model that has worked well in the Chicago and South Florida markets will apply well in the New Jersey region. Partnering with Jeff and John in New Jersey is the key to our success there. Their combined industry and area expertise and experience are absolutely invaluable.”
Milanaik has more than 28 years of experience in commercial real estate and was previously President/Partner of Heller Industrial Parks, Inc., one of the nation’s largest privately held owner/developers of industrial real estate. While at Heller, Milanaik increased Heller’s industrial development activities so as to grow the portfolio by over 10 million square feet to a total of 16 million square feet located in six states. Milanaik left Heller in 2013 to start his own firm, CrownPoint Group, LLC, a privately held real estate investment and development firm.
Porcek has 30 years of experience in the construction industry in industrial, commercial, and renewable energy projects. His engineering background and technical knowledge, combined with extensive field supervisory and project management experience, will enable him to dedicate his time to the design, engineering, and construction management efforts of the company’s projects. Porcek was most recently was Executive Vice-President and Senior Partner of Heller Industrial Parks, Inc. While there, Porcek was responsible for directing the design, development, and construction of more than $300 million worth of industrial development projects.
The firm plans to use the same model of success it has applied in the Chicago area and South Florida by capitalizing on Milanaik and Porcek’s decades of experience. Five years after opening its Miami office, the firm has developed five projects totaling 1.2 million square feet of speculative projects— Bridge Point Port 95, Bridge Point Marina Mile, Bridge Point Davie, Bridge Point Crossroads East and West—that are all Class A spec industrial facilities between 150,000 and 250,000 square feet in South Florida capitalizing on the area’s rapid growth.
Milanaik holds a bachelor’s degree in Mechanical Engineering from New Jersey Institute of Technology. He serves on the National Board of Directors of NAIOP and is Past President and Member of the Board of Trustees of NAIOP-NJ. In addition he serves on the Advisory Board of the New Jersey School of Architecture – NJIT, and is a member of SIOR and IOREBA.
Porcek holds a bachelor’s degree in Civil Engineering from New Jersey Institute of Technology and is a licensed engineer and planner in the State of New Jersey. He serves on the Board of Trustees of a pediatric cancer foundation Make Some Noise: Cure Kids Cancer Foundation, Inc. based in New Jersey but with chapters throughout the nation. John has been active in the efforts of the foundation to find and fund research for cures of various types of childhood cancers.