June 8, 2022
TypeDeal, Press Release
Real estate operator and investment manager plans two-building, 660K-SF Class A industrial development for parcel of former farmland
Romeoville, Ill. (June 8, 2022) – Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, announced today the acquisition of a 66.93-acre parcel of land in the highly-desirable I-55 corridor in Romeoville, Ill. The future site — Bridge Point Romeoville — will consist of two Class A buildings comprising 660,280 square feet.
Bridge acquired the vacant farmland site from a private seller and plans to immediately begin the grading and earthwork necessary to prepare it for development of two state-of-the-art industrial facilities. Bridge Point Romeoville is expected to be delivered in Q3 of 2023.
Building A will total 497,480 square feet and feature 40-foot clear heights; 136 exterior docks; four drive-in doors; 314 stalls for car parking; 87 trailer parking positions; 130-foot truck court; and the ability to incorporate a build-to-suit office. Building B will measure 162,800 square feet; 36-foot clear heights; 47 exterior docks; two drive-in doors; 146 stalls for car parking; 51 future positions for trailer parking; 130-foot truck court; and will also have build-to-suit office capabilities.
“The I-55 Corridor submarket has record low vacancy rates and has seen continued strong demand for big-box facilities,” said Jon Pozerycki, Partner, Chicago Region at Bridge. “These planned state-of-the-art facilities are ideal for a range of modern tenants, and we look forward to attracting top-tier logistics and distribution tenants to the project.”
Bridge Point Romeoville is strategically located at the southeast corner of Southcreek Parkway and Airport Road, affording future tenants a 5-minute drive to Interstate 55, and also places them within 39 miles of the Chicago “Loop” and just 26 miles from Midway International Airport. Adam Roth, David Haigh, and Packy Doyle of Hiffman will serve as leasing agents for the development.
Bridge currently has 3.8 million square feet of Class A modern industrial space under construction across the Chicago Region, which has realized significant preleasing at some of the firm’s larger flagship developments. Bridge continues to seek opportunities to develop modern industrial facilities in the most supply-constrained core infill industrial markets that can meet the steady demand for last-mile and next-day delivery.