Bridge Development Partners LLC has acquired 2727 Old Higgins Road in Elk Grove Village. It acquired the vacant, 184,406-square-foot industrial building from a local investor with plans to redevelop it beginning this summer. Bridge and its capital partner, Wanxiang America Corp. of Elgin, paid $3.1 million for the property.
The property is located at the southwest corner of Elmhurst and Higgins roads, with direct access to Interstate 90 in the heart of the O’Hare submarket. Brian Carroll of Grubb & Ellis in Rosemont will represent Bridge as leasing agent on the project.
Bridge plans to redevelop 2727 Old Higgins Road into a state-of-the-art air cargo building with 32-foot clear ceiling heights and 35 docks to attract freight forwarding companies. Construction is currently scheduled for late summer 2012.