Bridge Industrial Acquires O’Hare Site for Future 1.5M-SF ‘Bridge Point Melrose Park’
Former Navistar manufacturing site will be transformed into a modern industrial campus
CHICAGO (June 30, 2021) – Bridge Industrial (“Bridge”) announced today the acquisition of an 86.63-acre site in Melrose Park, Illinois, for the development of Bridge Point Melrose Park — a 1,539,780-square-foot, state-of-the-art development — from American holding company Navistar.
Bridge Point Melrose Park will consist of three Class A buildings, two of which will measure 415,918 square feet each, with the third building measuring 707,953 square feet — making it the only site in this submarket that can accommodate a facility of over 500,000 square feet. The modern, state-of-the-art distribution facilities will feature 36–40-foot clear heights and 130-foot truck courts, as well as a total of 234 exterior docks (expandable to 322); 8 drive-in doors; 1,481 car stalls; and 282 trailer stalls. Navistar will lease back the property from Bridge after closing for a short period of time, and Bridge expects to deliver the completed buildings in mid-2023. All three buildings will have a Class 6B tax Incentive In place.
“We love working in O’Hare and continue to see success here because of the area’s unparalleled proximity to Chicago, as well as the prime interstate and airport access for freight, e-commerce, and logistics users,” said Nick Siegel, Partner of Bridge’s Chicago region. “We look forward to bringing one of the largest developments in the region to market to provide these varied industrial tenants a space where they can expand operations amid the e-commerce boom and take advantage of the talented local labor pool.”
The site, existing in O’Hare since World War II, was previously home to Navistar’s manufacturing operations. The facilities will offer a prime location with unmatched access to O’Hare International Airport, area expressways, and intermodal centers. It is situated just two and a half miles from both Interstate 290 and Interstate 294, and less than ten miles from Interstate 88, Interstate 90, and Interstate 355.
Bridge has been the most dominant developer in O’Hare in recent years. Bridge Point Melrose Park will be Bridge’s 10th speculative building in the submarket since 2012. Bridge has previously successfully developed 3.04 million square feet of Class A industrial product in the O’Hare submarket since 2012.
Dan McGillicuddy of JLL represented Navistar in the sale.
