Bridge Development Partners has broken ground on Bridge Point Downers Grove, a speculative distribution project in suburban Chicago. The development will consist of three industrial buildings totaling roughly 680,000 square feet, slated for delivery in the fourth quarter of 2018. Banner Oak Capital Partners is a joint venture partner in the project.
Buildings 1 and 2 will be located at 3600-3700 Lacey Road. Building 1 is slated to encompass 174,576 square feet divisible into 25,000-square-foot layouts, featuring 32-foot clear heights. Planned amenities include 33 docks, four drive-in doors, nine trailer positions and 211 parking spaces. Building 2 will offer 212,937 square feet, 33 docks, four drive-in doors and 223 parking spaces.
Building 3, the largest among the facilities, will provide 291,345 square feet at 3800 Finley Road. The property is slated to include 40 docks, two drive-in doors, 240 parking spaces, 15 trailer positions and 36-foot clear heights.
Located at the intersection of interstates 88 and 355, the development will provide access to more than 75 percent of the country within a two-day delivery drive. Oak Brook’s and Downer Grove’s retail, hospitality and dining options are also located nearby.
“The building sizes and location make Bridge Point Downers Grove ideal for a wide variety of uses including last-mile e-commerce, distribution, light manufacturing and wholesale/will-call operations, to name a few,” said Cushman & Wakefield Executive Director David Friedland, in a prepared statement.
Bridge Development—who agreed to sell a $700 million industrial portfolio to Duke Realty last year—tapped Cushman & Wakefield’s Friedland, Jason West, Sean Henrick, Michael Magliano and Doug Pilcher to lease the property upon delivery.