December 20, 2018
TypeDeal, Press Release
Bridge Development Partners, LLC announced today that it has acquired a former perfume manufacturing facility in Bedford Park, IL, with plans to immediately demolish the existing structure and construct a 219,267-square-foot state-of-the-art distribution center called Bridge Point Bedford Park.
Located on 12 acres at 6855 W. 65th Street, the now-obsolete manufacturing facility was originally built in 1937 and was used in recent years for a variety of warehousing, parking, and salvaging operations. Following the demolition, construction will begin in Spring 2019 on Bridge Point Bedford Park, which will be divisible down to 45,000 square feet and will feature a 32-foot clear height. Additionally, the site will include 180 car parking stalls, 33 exterior loading docks (expandable to 42), and 44 trailer parking positions.
“The Bridge Point Bedford Park project is a perfect representation of our company’s focus on—and specialized expertise in—the redevelopment of complicated, infill sites located in institutional submarkets,” said Steve Groetsema, Partner, Midwest region, Bridge Development Partners. “This particular site requires an extensive environmental remediation that, once complete, will result in the development of a best-in-class distribution facility that can safely house a large workforce from throughout the region.”
Similar to Bridge Point 290 just to the north, Bridge Point Bedford Park will be the first newly-constructed speculative industrial facility developed in the Bedford Park submarket in more than a decade. Its ample clear height and car and trailer parking will appeal to a variety of industrial users in the area that are currently occupying outdated buildings. The redevelopment and demolition processes will include significant asbestos and environmental remediation, coordinated through the Illinois Environmental Protection Agency. The building will be delivered at the end of 2019.
Bedford Park is a completely-developed infill submarket that appeals to industrial users and investors, with its proximity to the City of Chicago and the strong workforce surrounding it. The site offers immediate access to Midway Airport and to the area’s major interstates and state routes, including Interstates 55 and 294, Harlem Avenue, and IL-171.
The Darwin Realty team of Zeke Rowan and Adam Haefner represented the seller in the transaction, and will be retained for the marketing and leasing of Bridge Point Bedford Park.