Bridge Development Partners, LLC today announced that is has been honored with two NAIOP Chicago awards, having been recognized as “Developer of the Year” for 2019, and earning “Industrial Speculative Development of the Year” for Bridge Point Franklin Park.
NAIOP formally extended the awards to Bridge at the organization’s 32nd Annual Awards for Excellence Gala on November 14 at Chicago’s Navy Pier.
“It is a great honor for us to receive this award from NAIOP. We have found tremendous success at our developments across the Chicagoland area over the last year, particularly by building first-class distribution and warehouse facilities that can help meet the incredible demand for industrial space in this market,” said Steve Groetsema, Bridge Development Partners’ COO. “As a Chicago-based company, we take great pride in our ability to design projects that can create lasting, high-quality jobs and generate meaningful tax revenue for our host communities. Each of these awards serve as a testament to our belief in that mission, and we are grateful to all of our partners and stakeholders for their contributions in making each of our projects a success.”
The prestigious Developer of the Year award is extended annually to a developer that best exemplifies leadership and innovation in the Chicagoland commercial real estate market. These two awards represent Bridge’s 7th time winning a NAIOP Chicago award.
Bridge Point Franklin Park is a three-building, 754,103 square foot campus of state-of-the-art industrial buildings in the O’Hare/West Cook County submarket of Franklin Park, IL. Bridge began constructing the campus in 2017 after acquiring the 48-acre property, which had been home to a collection of 26 fuel tanks owned by Magellan Pipeline Company.
Since then, the development has leased much of its space to a variety of tenants, including large international shipping and logistics companies such as Mainfreight and Agility Logistics, which were drawn to the campus due to its superior facilities and prime location in the heart of Chicago’s O’Hare submarket.
“We are very thankful for this recognition of our work on Bridge Point Franklin Park,” said Nick Siegel, Bridge’s Vice President. “Since acquiring the property in 2017, we always imagined it as a campus that could transform a vacant property into a true asset for both the village and all of Chicagoland. We look forward to applying the same approach to revitalize other underutilized sites, and creating other modern developments that can contribute to a strong and vital regional economy in the years to come.”
This is the third consecutive year that Bridge has won Industrial Speculative Development of the Year at the Chicago NAIOP Awards. Bridge was recognized for its Bridge Point 290 Phase I project in 2018, and Bridge Point North I in 2017.
Within the last 12 months, Bridge has acquired and/or constructed more than 6.3 Million square feet in the Chicagoland area. Notable projects include: Bridge Point Franklin Park; Bridge Point North Business Park Phase II and III in Waukegan, spanning more than 1.8 Million square feet across six-buildings; Bridge Point Itasca, a three-building state-of-the-art industrial campus totaling 741,621 square feet; Bridge Point Downers Grove Phase I and II totaling 812,301 square feet across four-buildings; Bridge Point Wood Dale, two state-of-the-art facilities totaling 342,266 square feet; Bridge Point Bedford Park, a Class A 219,267 square foot distribution center, and Fountain Square Commerce Center, a five-building state-of-the-art industrial logistics center totaling 959,459 square feet.
