CHICAGO—Chicago-based Bridge Development Partners,LLC has just purchased for more than $40 million the55-acre business park at 555 Northwest Ave. in suburban Northlakethat was used by the former Chicago-areaDominick's grocery chain. Safeway,Inc. closed the Dominick's line throughout the region inDecember 2013. Bridge will market the park as Bridge PointNorthlake.

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Company officials say that the firm will preserve two existingbuildings in the park: a 162,000-square-foot cooler facility; and afreezer facility, currently at 135,000-square-feet that will thedeveloper will expand by 104,120-square-feet. Each of thesebuildings has 32' clear ceiling heights, and each is available forimmediate occupancy.

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In addition, Bridge will raze other obsolete structures to makeway for a new 588,284-square-foot distribution center featuring 36'clear ceiling heights; 4,000 amps power feed; ESFR sprinklersystem; 85 to 170 dock positions; 200-car parking, also expandable;and 112 trailer stalls. The company plans to deliver the buildingin the third quarter of 2015.

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The site was Dominick's main distribution campus and sits closeto O'Hare International Airport. In addition tohaving quick access to most of the region's interstates, the sitealso features more than 2,500 lineal feet of I-294 frontage and isbordered on the east by Union Pacific Railroad'swest coast trunk line.

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And due to its infill location, the site will appeal to manyusers, according to Steve Groetsema, director ofleasing and development with Bridge, including those who needproximity to O'Hare, those distributing throughout the Chicago areaand regionally in the Midwest, and the value-add users who wantaccess to the surrounding labor pool.

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Bridge focuses on the development and acquisition of industrialand office real estate in the Chicago, South Florida and New Jerseyregions. In the past year, it has helped begin the revival ofindustrial construction in the Chicago-area. As reported inGlobeSt.com, last year Bridge, in a partnership with Akard Street Partners, begandeveloping a 365,359-square-foot build-to-suit facility on about 25acres at 8201 W. 47th St., in suburban McCook. Furthermore, inphase two of that development, Bridge will complete a226,000-square-foot speculative industrial facility that willoccupy an additional 15 acres.

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John Suerth and Jason Lev ofCBRE represented Safeway in the sale of the former Dominick's site,and Bridge has retained the duo to market all three properties atthe new Bridge Point Northlake.

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Brian J. Rogal

Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.