NAI Hiffman completed a lease for an undisclosed major e-commerce company for two new, last-mile industrial buildings in Cicero, Illinois. The two buildings, known as BridgePoint 290 Buildings I and II, total 575,000 square feet and are located at 1400 S. Laramie Avenue, less than eight miles from downtown Chicago.
NAI Hiffman’s Mark Moran and Steve Connolly, executive vice presidents, and Brett Tomfohrde, senior associate, represented owner, Cabot Properties, in the deal. Cabot originally bought the 33-acre site in 2018 from Bridge Development Partners, which managed the development and construction of the two buildings, completed at the end of 2019.
The new tenant is making additional improvements to both buildings, which it plans to use for its last-mile e-commerce fulfillment needs. The tenant was represented locally by Jason West, vice chair of the Chicago office of Cushman & Wakefield.
“This is another example of the continued demand for infill industrial redevelopment, particularly when it is well-located,” said Moran. “We saw the potential in this location six years ago, when we first did an analysis of it for an earlier owner. It offers quick access to a Chicago customer base and a strong local labor pool, both of which are attractive to this tenant and other e-commerce players wanting proximity to major population centers.”
Building I comprises 343,090 square feet, including more than 4,000 square feet of office space, plus 49 exterior docks (expandable to 69) with 36-foot clear heights, 94 trailer positions and parking for 303 cars. Building II has 232,845 square feet, with space for build-to-suit offices, along with 37 exterior docks (expandable to 45), 36-foot clear heights, 62 trailer positions and parking for 198 cars.
Both buildings are located less than a mile from I-290 and five miles from I-55. Midway International Airport is less than six miles from the site, and O’Hare International Airport less than 15 miles from the site.