Bridge Industrial announced today the signing of two new leases at ‘Bridge Point Melrose Park’ — an industrial development situated on 87 acres in Melrose Park, Illinois — to supply chain management firm CEVA Logistics, and Expeditors International, a logistics and freight forwarding firm. After finalizing the agreements, Bridge Point Melrose Park is now 86% pre-leased.
CEVA has signed a long-term lease agreement for the planned 707,953-square-foot cross-dock warehouse and Expeditors will occupy a new 669,914-square-foot facility at the development. In order to accommodate both tenants’ desired warehouse requirements, Bridge worked with its design and construction team to adjust the plans for the 1.6 million-square-foot-project. The design team consists of leading architecture firm Cornerstone; general contractor ARCO Murray; and SPACECO, Inc., the project’s civil engineer. Bridge secured a loan on the project from CIBC in 2021.
With the completion of the two modern cross-dock facilities, Bridge will construct one final building on the south end of the site with frontage along North Avenue. This building will be a 225,009-square-foot rear-load facility with 36-foot clear ceiling heights and ample truck and car parking spaces. This building will be available for lease in late 2023.
Bridge originally acquired the site, located at 10400 West North Ave., in June of 2021 from Navistar and began demolition in early 2022. Initial site plans included three Class-A buildings — one 707,953-square-foot cross-dock facility, and two 415,918-square-foot rear-load facilities — making it the only site in the O’Hare submarket able to accommodate a user over 500,000 square feet.
Dan McGillicuddy, Charlie Kenning and Brian Carroll of JLL represented Bridge in both transactions. Jason Lev and Jimmy Kowalczyk of CBRE and Jeffrey Kernochan and Andrew Mager of Fischer represented CEVA and Expeditors, respectively.
Bridge Point Melrose Park offers a combination of size, location, and functionality. The project boasts a prime location with direct access to O’Hare International Airport, area expressways, and the broader Chicagoland population base. It is situated just two and a half miles from both Interstate 290 and Interstate 294, and less than 10 miles from Interstate 88, Interstate 90, and Interstate 355.