Bridge and Premier to Start McCook Spec

CHICAGO—The metro area’s industrial economy in general, and the south suburban submarket in particular, keeps making progress on the road to recovery. Premier Design + Build Group, LLC, for example, will soon begin the design-build process on a speculative project for Bridge Development Partners, LLC and Akard Street Partners, LP at 8401W. 47th St. in suburban McCook. The Itasca-based Premier recently completed an institutional grade build-to-suit just next-door for the same developers.

It is a promising time to begin a new development project. The recently completed Bridge/Akard project, at 8201 W. 47th St., was a 365,400-square-foot build-to-suit that was just occupied by Freeman Decorating. Furthermore, the vacancy rate in the I-290 submarket “dropped dramatically from the first quarter level of 7.0% to 5.32% – a stunning 168 bps decline and the most of any Chicago area market,” according to Colliers’ second quarter report. “This was largely due to extremely strong second quarter sale volume.”