CHICAGO, Ill. (January 22, 2023) – Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, announced the acquisition of a roughly 22-acre site located at the core of the I-55 submarket at the intersect of Rt. 53 and Joliet Road. The project will serve as the future home of ‘Bridge Point I-55 Commerce Center,’ for which Bridge plans to construct, on a speculative basis, two industrial Class A facilities totaling 292,011 square feet.
Bridge acquired the site from Chicagoland-based Orange Crush, LLC., who previously used the facility as an asphalt crushing and transloading facility. Construction is slated to begin Q2 of 2024, with project delivery anticipated in mid-2025. Dan Leahy of NAI Hiffman represented Bridge in the sale and will serve as the leasing agents for the development once completed.
Bridge Point I-55 Commerce Center will consist of two modern industrial warehouses — Building A, totaling ± 120,011-square-feet and Building B, totaling ± 172,000-square-feet. Building A will feature 36-foot clear heights; 25 exterior docks; 2 drive-in doors; and 106 car parking stalls with the ability to expand up to an additional 117 car parking stalls. Building B will feature 36-foot clear heights; 43 exterior docks; 2 drive-in doors; and 107 car parking stalls. In addition to the features listed herein, the site will be delivered with 90 trailer parking stalls as a stand-alone lot to have the flexibility serve both Buildings A and B. The development will also be designed in accordance with LEED Certified standards.
“The greater Chicagoland area is experiencing record-low vacancy rates and sustained demand — particularly in the supply-constrained submarkets where Bridge has a large presence, such as the I-55 Corridor,” said Jon Pozerycki, Partner, Chicago Region at Bridge.
The buildings’ flexible design will cater to a range of user needs — with divisibility options from 40,000 square feet up to 170,000 square feet — and a wide variety of tenant types seeking modern Class A space in the core I-55 submarket.
The development’s ideal location affords direct access to Interstate 55 via a four way interchange on Route 53, or Interstate 355 via Joliet Road, and places prospective tenants in close proximity to Chicago’s diverse retail amenities and robust skilled labor pool. Bridge Point I-55 Commerce Center marks Bridge’s newest project in the I-55 submarket — with the last being the 660,280-square-foot Bridge Point Romeoville, for which the firm acquired a 67-acre site in June 2022.