Bridge Development Partners has announced the signing of Costco-Innovel Solutions to a lease at Bridge Point Itasca, its three-building, 741,162-square foot industrial campus in Itasca, Illinois.
Costco-Innovel Solutions signed a long-term lease for 111,909 square feet in Building I of Bridge Point Itasca for last-mile distribution of consumer products. Costco chose the property for its ability to accommodate the necessary car and van parking, dock counts and the proximity to excellent highway access along I-290 and the Elgin-O’Hare Expressway. The company will begin occupying the space immediately while BRIDGE continues to build out the interior space with improvements.
“Just one year after breaking ground on Bridge Point Itasca, we’ve already leased almost two thirds of the project to long-term, high-quality tenants who will help meet the soaring regional demand for crucial medical and consumer goods,” said Nick Siegel, Partner, Chicago Region at Bridge Development Partners. “Our newest tenant, along with the existing users in the park, will cement this development as the premier modern industrial offering in the entire Chicagoland region, and further demonstrates the ever-growing demand for top-of-the-line industrial space across the country.”
The buildings at Bridge Point Itasca measure 248,362 square feet, 247,176 square feet, and 245,624 square feet respectively. All three buildings feature high-end glass facades, 32-foot clear ceiling heights, ESFR sprinkler systems, and above-standard loading and car parking.
BRIDGE initially acquired the 48-acre property in 2018 from Entercom Communications Corporation and removed the two massive landmark radio towers that had once been transmitters for CBS Radio. BRIDGE broke ground on Bridge Point Itasca in November 2019, and completed it in Summer 2020.
Following this lease agreement, the campus is now 65 percent leased.
Located in the Chicago O’Hare industrial submarket, Bridge Point Itasca is bordered by Interstate 290, IL Route 390, Devon Avenue, and Rohlwing Road/IL Route 53 – providing Costco and all future tenants with unparalleled access to a transportation and distribution network in the heart of DuPage County.
Chris Nelson and Jeffrey Janda of Lee & Associates represented Bridge Development Partners, while Chris Lydon and Brian Pomorski of Avison Young represented Costco-Innovel Solutions.
BRIDGE currently has over 1.2 million square feet under construction in the Chicagoland area, including its newest project, Bridge Point Skokie, a 12-acre land site that will feature a 172,000 square foot Class A facility delivering in Q3 2021, Bridge Point I-355, a 133,100 square foot Class A industrial development in Lombard, and Bridge Point North Phase III, four state-of-the-art facilities totaling 919,281 square feet, which represents the final phase of the master planned business park in Waukegan. BRIDGE recently completed development Bridge Point Wood Dale, a two-building Class A industrial development in Wood Dale which is now 100% leased to two tenants.