Two properties in Elk Grove Village, Illinois, located 2475 Touhy Ave., and 1701 Nicholas Blvd. in Elk Grove Village, Illinois, are now fully leased through a partnership between Bridge Development Partners, LLC, and Akard Street Partners, L.P.
Delivered in 2014, the properties are reportedly two of the first five buildings to break ground on a speculative basis in the Chicago industrial market after the downturn. They are situated in the heart of the O’Hare submarket.
The state-of-the-art buildings feature 32-foot clear ceilings, ESFR sprinklers, exterior loading docks and 126-foot truck-court depths.
Current tenants include:
- Basic Enterprise, which moved from a 32,477-square-foot unit to a 69,967-square-foot unit at 2475 Touhy in a long-term renewal and expansion,
- Labelmaster Packing Services/DGM Inc., which moved into Basic Enterprise’s previous 32,477-square-foot space at 2475 Touhy, to expand operations.
- NNR Global Logistics USA, Inc., signed a long-term 119,752-square-foot lease at 1701 Nicholas Blvd, looking to expand and relocate its operations. Recently, the company leased the remaining 30,768 square feet at 1701 Nicholas. It will relocate from its previous space in Itasca and this new location will now serve as its head office.
Bridge is now working to refinance the existing loans on both properties with a single long term facility provided by J.P. Morgan.
