CRE Midwest

Bridge attracts two tenants to Lyons cold storage facility

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Chicago-based Bridge Development Partners LLC has signed two leases totaling 90,779 square feet at its 312,000-square-foot cold storage facility at 8424 W. 47th St. in Lyons.

Chicago-based Bridge Development Partners LLC has signed two leases totaling 90,779 square feet at its 312,000-square-foot cold storage facility at 8424 W. 47th St. in Lyons. It acquired the property in December 2011 from Voorhees, N.J.-based United States Cold Storage Inc., which remains in 150,000 square feet.

Fulton Market Cold Storage Co., now known as Hasak Cold Storage, signed a 10-year lease for 75,354 square feet. It has moved from 1000 W. Fulton in Chicago with plans to grow its business with the newer, more efficient facility with freezer and cooler capabilities, 24-foot clear heights and a USDA-approved repacking room. The building is centrally located in the near southwest submarket in close proximity to Interstate 55, providing direct access to the city.

Peter Block, Vern Schultz and Tom Condon of Colliers International represented Fulton Market Cold Storage; Steve Connolly and Larry Much of Oakbrook Terrace-based NAI Hiffman represented Bridge in the lease transaction.

Bridge also signed a 15,425-square-foot, five-year lease at the Lyons facility with Bridgeview-based Registry Steaks & Seafood Ltd. for seafood packing and distribution. Connolly represented the tenant; Connolly and Much represented the landlord.

“When we acquired the property six months ago, we knew quality freezer/cooler space near the city was in low supply,” said Tony Pricco, principal with Bridge. “We’ve been pleased with the strong demand and leasing efforts that bring us to 77% occupancy to date.”