CHICAGO—One year after its purchase of nearly 41 acres in southwest suburbanMcCook, Bridge Development Partners has just soldthe 365,359-square-foot distribution facility it built on a portionof the site to American Realty Advisors. Accordingto Cook County records, the price was $39 million.In July 2013, Dallas-based Freeman Decorating Services,Inc. signed a 15-year lease for this build-to-suit at 8201W. 47th St. and has since moved from an older building on Chicago'sWest Side.

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“American was seeking a long-term net-asset investment with goodcredit and the Freeman building offered that in a quality propertyin a prime in-fill location with close proximity to the City ofChicago,” said Bridge principal Tony Pricco in aprepared statement. He was not available for more comment by presstime.

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Freeman was represented in their lease negotiations byJerry Sullivan and Ed Wabick ofChicago's Paine/Wetzel TCN Worldwide, andTom Sutherland of CASE Commercial RealEstate Partners in Dallas.

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McCook, a town with few residents but a lot of industry, sitsnear Chicago and has easy highway access to the city's giantMcCormick Place convention center, where Freemanconducts much of its trade-show business. “After an extensivesearch of the market, it became clear that McCook provided anexcellent location for Freeman to serve the entire Chicagolandarea,” Sullivan told GlobeSt.com last year when the deal was completed.

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The Chicago-based Bridge acquired the McCook site withAkard Street Partners, an investment partnershipoperated by Hunt Realty Investments, Inc. Forphase two, Bridge has begun developing on the remaining 15 acres ofthe site a 226,196-square-foot speculative industrial facility,divisible to 50,000-square-feet. Vern Schultz andTom Condon of ColliersInternational are the exclusive leasing agents for theproject.

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Both McCook facilities were designed by Itasca, IL-basedCornerstone Architects Ltd. and constructed by DesPlaines, IL-based Premier Design + Build Group,LLC.

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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.