"They needed the space immediately, and we were able to provide that to them," says Tony Pricco, principal with Bridge Development Partners LLC, which developed the 508,000-square-foot complex. "They liked the modern space, but the key to the deal was that they needed the space within a week. Right now it's a short-term lease, but our goal is that they stay longer."

Hyper Microsystems new space at 1700 and 1701 Leider Ln., near Aptakisic Rd., allows Hyper Microsystems to expand from its current location just a few miles away at 201 Hastings Drive, also in Buffalo Grove.

Bridge completed construction on the 29-acre Aptakisic Creek this fall, including retrofitting an existing 173,000-square-foot warehouse which has since been leased fully for 12 years to PrimeSource Building Supplies. Located at Aptakisic Road and Leider Lane, the development also included the two buildings Hyper Microsystems will occupy, both of which offer 30-foot clear ceiling heights, 16 loading docks docks, four drive-in doors, ESFR sprinklers, T5 lighting, and 150 or more parking spots. The development is about 73% occupied, with about 138,000 square feet remaining available in the larger of the two buildings for asking lease rates around $7 per square foot.

Bridge developed the project as a joint venture with McMorgan & Co., having purchased the property from Peerless of America for $16.6 million. Bridge was represented by John Hauser and Charlie DesRosiers of Cushman & Wakefield, while Hyper Microsystems was represented by Eric Fischer of NAI Hiffman in the deal. The property is located in the Lake County submarket, where average asking lease rates for distribution space are around $6 per square foot net and overall occupancy rates are near 92%, according to Cushman & Wakefield's year-end industrial market report.

"There has been a lot of activity, especially in southern Lake County," Pricco tells GlobeSt.com. "People are being very cautious, taking longer to make decisions and have more options, but if you look around the greater market, the kind of new product and state-of-the-art distribution space we're offering doesn't exist. It slowed down a little in the first quarter, but there are still a lot of users needing space."