Bridge Industrial (“Bridge”), a privately-owned, vertically integrated real estate operating company and investment manager, has acquired a site in Mundelein, Illinois, which will serve as the future home of Bridge Point Mundelein – a 320,196-square-foot, Class A industrial facility.
Located at 290 Townline Road, the development will boast features including 271 stalls for car parking and 101 stalls for trailer parking; 2 drive-in doors; and 36-foot clear ceiling heights. Of the 101 trailer stalls, 67 are located in an adjacent lot and can be converted to car and/or box truck parking – offering tenants an extremely rare amenity in the land-constrained Lake County submarket. In addition to these amenities, Bridge Point Mundelein will offer prospective tenants a unique opportunity for building customization with a speculative office built-to-suit.
Groundbreaking on the site will commence immediately and the project is expected to be completed in Q3 of 2022.
Bridge Point Mundelein is situated in a prime infill location within the Lake County submarket, providing future tenants with direct access to the four-way intersection at I-94 and Route 60. Additionally, the development is located within 30 minutes of the O’Hare International Airport, and within an hour of both Downtown Chicago and the Mitchell International Airport in Milwaukee.
In addition to its location, the development also offers access to the region’s abundant labor pool, adding to its appeal for a wide range of users in industries such as e-commerce, last-mile delivery, transportation, and logistics.
Whit Heitman, Sam Badger, and Jared Paff of CBRE brokered the transaction for the site.
Bridge Point Mundelein is the latest development to be added to Bridge’s portfolio of successful, modern warehouse facilities in Lake County. The project builds on the firm’s long-standing strategy of adding value to communities and regions through transformative industrial offerings. Earlier this year, Bridge completed development on Bridge Point North Phase III, the final phase of a 225-acre, 2.8 million-square foot master planned industrial business park in Waukegan. Bridge Point North Business Park is over 85 percent leased, further establishing Lake County as one of the country’s fastest growing markets for distribution, logistics, e-commerce and other industrial users.