Recognition for the firm’s work on Bridge Point North Phase III marks the sixth consecutive year receiving this award for state-of-the-art design and construction
CHICAGO (November 29, 2022) – Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, announced today that it has been named the recipient of this year’s ‘Industrial Speculative Development of the Year’ by NAIOP Chicago. Bridge was awarded this honor for its work on Bridge Point North Phase III, a 919,279-square-foot industrial facility located in Waukegan, Illinois — marking the sixth consecutive year Bridge has been recognized for this award.
“Each year the NAIOP Awards bring together an esteemed line-up of nominees, and we are extremely proud to be receiving this recognition from our peers in Chicago’s industrial real estate community,” said Jon Pozerycki, Partner, Chicago Region at Bridge Industrial. “With the support of the City of Waukegan, along with all the stakeholders involved in the transaction who contributed and made this development possible, Bridge has been able to build a project of great value creating thousands of jobs, attracting top-tier tenants, and spurring economic growth for the region.”
Representing the final phase of the 225-acre, master-planned Bridge Point North campus, Bridge Point North Phase III is a four-building Class A industrial project. Currently 88 percent leased, the site boasts numerous top tier tenants including Amazon, Visual Pak, Go Chara, Hub Dub, and Paul Davis Restoration.
Each building — which ranges in size from 100,314 to 501,109 square feet — is designed to accommodate diverse occupant needs and features sought-after amenities such as 32- to 36-foot ceiling heights; abundant exterior dock positions; drive-in doors; and ESFR sprinklers, with Building 9 alone offering over 100 trailer stalls. Beyond this, the property sits in a prime location touting direct access to I-94 and excellent proximity to Chicago O’Hare International Airport.
Through Bridge’s development of the Bridge Point North campus, an obsolete office site was transformed into one of the most premier business parks in the state. With the completion of Phase III, Waukegan has emerged as a hub for industrial activity, providing steady, well-paying job opportunities for the region.
Bridge Point North Phase III was sold in Q4 of 2021 to Cabot Properties.
Bridge has a long standing presence across Chicagoland, with over 21.5 million square feet of development properties in the area to date; many of which have received previous recognition for Industrial Speculative Development of the Year by Chicago NAIOP, including: Bridge Point Itasca in 2021; Bridge Point Downers Grove Phase I & II in 2020; Bridge Point Franklin Park in 2019; Bridge Point 290 Phase I in 2018; and Bridge Point North I in 2017.