Bridge Development Partners, LLC, has announced four recent leases at three new industrial distribution developments in the Chicago area.
The firm, along with joint venture partner Akard Street Partners LP, have signed two leases at Bridge Point 94 Building 1, a 185,670-square-foot building at 851-899 E. Park Avenue in Libertyville, Ill.
The first was a long term lease signed by NavePoint for 36,137 square feet. NavePoint, a distributor of cables and rack mounted equipment, will expand from its current location in Buffalo Grove and was represented by Sergio Chapa of Newmark Grubb Knight Frank.
Also at Bridge Point 94, Alltech Automotive signed a lease for 58,770 square feet. Alltech, a leading manufacturer of aftermarket auto parts for the U.S. and world markets, is expanding from its current location in Wauconda. Alltech was represented by Rick Delisle of RD Strategic.
The Navepoint and Alltech leases bring Bridge Point 94 I, which was delivered in July 2015, to 100 percent occupancy. Bridge was represented by John Hauser, Michael Fonda and High Williams of Avison Young in both transactions.
In addition, Chicago Fine Motors has signed a long-term lease for 31,547 square feet at Bridge Point McCook II, a 226,196-square-foot building located at 8401 W. 47th Street in McCook, Ill., Chicago Fine Motors, a large indoor showroom car dealer specializing in luxury and foreign brands, is expanding from its current location in Lyons.
The Chicago Fine Motors lease brings Bridge Point McCook, which was delivered in July 2015, to 100 percent leased. Chicago Fine Motors was represented by Adam Stokes of Nicholson Porter & List, while Bridge/Akard was represented by Vern Schultz of Colliers International.
Lastly, Pilot Air Freight has signed a long-term lease for 138,086-square feet at Bridge Point Grand, a 182,965-square-foot building located at 11600 Grand Avenue in Northlake, Ill. The lease brings Bridge Point Grand, scheduled for delivery in August, to 75 percent preleased. Pilot Air Freight, a full-service global transportation and logistics company, was represented by Dan McGillicuddy and Sam Durkin of JLL. Bridge/Akard was represented by Brian Colson and Joe Bronson of NAI Hiffman.