Bridge Development Partners has broken ground on Bridge Point Itasca, a three-building, 741,000-square-foot industrial project slated for delivery mid-2020. Chris Nelson and Jeff Janda, SIOR, principals of Lee & Associates’ Illinois office, represent Bridge in the marketing of this project.
Designed by Cornerstone Architects, Bridge Point Itasca sits on a 48-acre site bordered by Interstate 290, IL Route 390, Devon Avenue and Rohlwing Road/IL Route 53. The project will include three state-of-the-art distribution/logistics centers measuring 248,625 square feet, 247,380 square feet and 245,616 square feet.
They will feature high-end glass facades, 32-foot clear ceiling heights, ESFR sprinkler systems and above-standard loading and car parking. In addition to the industrial buildings on site, the development will also include more than seven acres of land zoned for retail use along Rohlwing Road on the west.
Along with joint venture partner, Banner Oak Capital Partners, Bridge acquired the Itasca site last year for an undisclosed amount from Entercom Communications Corp. Recent prep work included the demolition, led by PREMIER Design + Build Group, of a 695-foot former radio broadcast tower that had served for years as a landmark for Eisenhower commuters.
Bridge Point Itasca represents the third notable 50-acre development site acquired in the last 12 months in the Midwest Region, joining Bridge Point Franklin Park, a redevelopment of a former petroleum tank farm along Interstate 294 just south of O’Hare, and Bridge Point Downers Grove, a site formerly slated for office towers at the intersection of Interstates 355 and 88.