CBRE has been named the listing agent for Bridge Point North, a premier 225-acre business park located at Route 137 and Waukegan Road in Waukegan, Illinois.
The property is a joint venture of Bridge Development, in partnership with Globe Corporation, Wanxiang America Real Estate Group and Akard Street Partners, L.P., an investment partnership operated by Hunt Realty Investments, Inc.
Bridge Point North is a redevelopment of the former Cardinal Health Campus, and offers land sales and development opportunities to accommodate build-to-suits from 40,000 to 625,000 square feet and land sales from 5 to 32 acres.
Ryan Bain, senior vice president with CBRE who is representing the developer alongside CBRE First Vice President Zach Graham, said Lake County is experiencing historic low vacancy rates and lacks modern bulk industrial product. Tenant demand, he said, has remained consistently strong as evidenced by seven years of positive net absorption.
Currently, two speculative developments are underway—a 627,000-square-foot facility has been completed and a 400,500-square-foot facility is scheduled for year end delivery, both of which offer 36′ clear heights, ample loading, and parking.
