Industrial N Illinois

Bridge Development sells value-add property in Addison to Cabot Properties

Bridge Development sells value-add property in Addison to Cabot Properties,ph1

Bridge Development Partners, LLC announced the sale of the 87,640-square-foot industrial facility located at 133 N. Swift Road in Addison, Illinois to Cabot Properties. Terms of the sale were not disclosed.

Bridge purchased the site in December 2018, and immediately embarked on plans for an extensive property enhancement program for long-term tenant Associated Material Handling Industries, Inc. As part of the repositioning, it constructed a remote warehouse restroom, increased and upgraded lighting throughout the facility, repainted, added carpeting and new ceiling tiles to the 20,000-square-foot headquarters office and improved the building’s exterior aesthetic.

The CBRE national partners team of Mike Caprile, Ryan Bain and Zach Graham represented Bridge in the sale of the property. This is Bridge’s third Chicagoland transaction with Cabot Properties, who purchased both Bridge Point 290 Phase I and Phase II in 2018.

“We’re very happy to have completed another transaction with Cabot Properties, who have been a tremendous buyer and a pleasure to work with across the Chicago area,” said Nick Siegel, vice president at Bridge Development Partners. “We are also truly proud of the upgrades made to the building to accommodate Associated’s long-term growth within the facility.”

The 4.65-acre siteis strategically located in the thriving DuPage County submarket, directly off of the four-way interchange of I-355 at Army Trail Road. The property features tollway frontage as well as close proximity to O’Hare International Airport, the interstate system, executive housing and a large workforce population.