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Bridge Buys 54-Acre Development Site in Downers Grove for 680,420-SF Distribution Project

Three-Bldg. Bridge Point Downers Grove to Deliver By Year-End
January 29, 2018
Bridge Development Partners purchased a 54-acre infill site in Downers Grove, IL where the Chicago-based firm plans to develop three distribution centers totaling 680,420 square feet.

Building 1 at 3600 Lacey Rd. and Building 2 at 3700 Lacey Rd. will measure 175,120 square feet and 213,460 square feet, respectively. The properties will each feature 33 loading docks, four drive-in bays, a 32-foot clear height and nine trailer positions. Building 1 will also include 213 car parking spaces, while Building 2 will feature 226 spaces.

The largest of the three, the 291,840-square-foot Building 3 at 3800 Finley Rd. will sport 40 loading docks, two drive-in bays, a 36-foot clear height, 15 trailer positions and parking for 242 cars.

The project, known collectively as Bridge Point Downers Grove, will break ground this quarter with a delivery date scheduled for the fourth quarter of 2018.

“Bridge sincerely believes this project will be one of the most unique and notable new development starts in the Chicago industrial market in years,” said Steve Groetsema, principal - Chicago market officer for Bridge. “This is an irreplaceable large infill tract of land in Chicago’s West Suburbs submarket positioned to attract tenants from the Interstate 55, West Cook County and DuPage County submarkets, three of the region’s most dynamic submarkets."

Groetsema added that he expects the site to attract corporate users with a headquarters, heavy office or showroom component and/or in need of a labor or distribution facility in the center of Chicagoland.

Bridge paid $18.5 million for the site near I-88 and I-355 at the northwest corner of Finley and Lacey roads. The company acquired it in December from a national developer in an off-market deal.

Jason West, Sean Henrick, Doug Pilcher, David Friedland, and Michael Magliano of Cushman & Wakefield are handling leasing for the park.
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