First Lease Deal Signed at Bridge Point Itasca Campus

ITASCA, IL— Keyence Corp. has signed the first lease at Bridge Development Partners’ Bridge Point Itasca development here.

The international manufacturer of automation sensors, vision systems, barcode readers, laser markers, measuring instruments, and digital microscopes has agreed to a long-term lease for 80,849 square feet at Building II at the complex located in the O’Hare industrial submarket. The deal, brings building’s occupancy to 33%. Keyence will begin occupancy of the space in the third quarter of next year.

“Attracting an internationally recognized company like Keyence as our first tenant at Bridge Point Itasca cements the park’s reputation as highly desirable for corporate tenants due to its extremely strategic location in the thriving O’Hare submarket,” says Nick Siegel, VP of Chicago-based Bridge Development Partners. He adds that the deal brings Bridge Point Itasca to 11% pre-leased.

Chris Nelson and Jeffrey Janda of Lee & Associates represented Bridge Development Partners, while David Haigh of NAI Hiffman and Mike Nicholson of the Acclaim Group represented Keyence Corp. in the transaction.

Building II, which broke ground earlier this month, totals 247,176 square feet. Like Buildings I and III, the state-of-the-art distribution and logistics center will feature high-end glass facades, 32-foot clear ceiling heights, ESFR sprinkler systems, and above standard loading and car parking. Building II specifically features 34 exterior docks, two drive-in doors, parking for 234 cars and space for a build-to-suit office.

Bridge acquired the 48-acre property in 2018 from Entercom Communications Corp. and removed two massive landmark radio towers that had once been transmitters for CBS Radio. Pre-cast panels are currently being erected onsite. All three buildings at the 741,621-square-foot industrial campus are slated for completion in the summer of 2020.