Industrial N Illinois

Bridge Development leases 880,000 SF in Chicago area during first half of year

Bridge Development leases 880,000 SF in Chicago area during first half of y,ph01
Bridge Point Wood Dale, located at 700 N. Wood Dale Road in Wood Dale, Illinois.

Through the first half of 2019, Bridge Development Partners totaled 880,000 square feet of leases signed in the Chicagoland market. Since only January, Bridge has secured tenants in five state-of-the-art industrial facilities across the Chicago area, namely in its Wood Dale, Franklin Park, Downers Grove, Bridge Point North and Fountain Square developments.

“We’re extremely proud of the leasing activity in our Chicago region just halfway through 2019,” said Steve Groetsema, COO and partner at Bridge Development Partners. “The work we’ve done to rehabilitate these previously infill sites is attracting a superior roster of tenants—many in the logistics and shipping industry—to each development. We hope to lease up the remaining square footage by the end of 2019.”

Forward Space entered into a long-term lease for 100,378 square feet at Bridge Point Wood Dale, located at 700 N. Wood Dale Road in Wood Dale, Illinois. Forward Space is a woman-owned, Steelcase-authorized commercial furniture dealership that provides office furniture, workplace planning, procurement and delivery/installation in multiple locations across the Chicagoland area. Bridge Point Wood Dale is currently 30 percent leased across its two buildings.

Mainfreight Logistics committed to a long-term lease for 92,915 square feet at Bridge Point Franklin Park Building III, located at 10701 Franklin Avenue in Franklin Park, Illinois. Mainfreight is a global logistics provider operating across the U.S., Australia, China, Europe and New Zealand. With its addition, Bridge Point Franklin Park’s three buildings are currently 43 percent leased.

There were a trio of leases at Bridge Point Downers Grove Building I, located at 3600 Lacey Road in Downers Grove, Illinois. Coopers Hawk Winery & Restaurants, a modern casual dining franchise signed a long-term lease for 24,495 square feet; German multinational conglomerate ThyssenKrupp Engineering signed a long-term lease for 25,632 square feet and Remedi SeniorCare entered into a long-term lease for 56,231 square feet as well. Bridge Point Downers Grove’s three buildings are currently 16 percent leased.

Thermoflex signed a long-term lease at Bridge Point North Building V for the entire facility, which encompasses 228,252 square feet, located at 1350 Bridge Drive in Waukegan, Illinois. Thermoflex has developed and produced automotive accessories such as all-weather floor and cargo mats, protectors, exterior trim applications and more for over 60 years, and is in its fourth generation of family management in Waukegan. Bridge Point North is currently 68 percent leased.

The Fountain Square Commerce Center in Bolingbrook, Illinois, signed four leases. In Building II, located at 600 Remington Boulevard, Bulletproof Logistics & Distribution signed a long-term lease for 98,428 square feet, as well as a 67,479-square-foot expansion space. Also in Building II, logistics and transportation management company eShipping signed a long-term lease for 98,428 square feet.

Another logistics firm, LEGS Transport, signed a long-term lease for 38,899 square feet at Fountain Square Commerce Center Building III, which is located at 640 Remington Boulevard. Custom creative design studio, L3DFX, also signed a long-term lease at Building III for 47,021 square feet. The existing four buildings at Fountain Square Commerce Center are now 92.5 percent leased. Building V, which will total 218,754 square feet once complete, is scheduled to break ground next month.

Bridge currently has eight projects underway in the Chicagoland area totaling 4.7 million square feet, including Bridge Point Itasca, three state-of-the-art facilities totaling 741,621 square feet in the DuPage County portion of the O’Hare Submarket, and Bridge Point Bedford Park, a Class A infill development encompassing 219,267 square feet.