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WOODRIDGE, IL-In a new industrial park here, Bridge Development Partners LLC is developing two distribution facilities totaling more than 383,300 sf. The Chicago-based company, in partnership with investment holding company Globe Corp., has authorized construction on the $28 million park, to be called Bridge Point Woodridge. The 19-acre property, at the corner of Davey and Lemont roads in the southwest Interstate 55 submarket, is expected to be complete in early 2009.

“We’re on the eastern-most side of the market, which is stronger than the western side, with less vacancy,” says Bridge principal Anthony Pricco. “If you look at the vacancies for smaller users on the east side of that market, east of Route 53, the vacancy rate is quite a bit lower than it is in the overall market. There’s tenant demand in that location for smaller users.”

Bridge Development has already developed two other business parks in Woodridge, and is now targeting users seeking between 15,000 to 50,000 sf to occupy its new 264,000-sf and 119,000-sf buildings. Both buildings will be constructed of precast concrete, and feature eight drive-in doors, an abundance of exterior glass and 30-foot ceilings. The larger building will offer 24 exterior docks, expandable to 48, while the smaller will offer 16 exterior docks, expandable to 26. Pricco says the lease rates will be about $6.95 for the smaller building and $5.75 for the larger, both triple net.

Each building will be divisible into up to eight sections for separate users. “We really set these buildings up for divisibility so they can accommodate the smaller user, which we feel is the segment of the market that has the most potential,” Pricco tells GlobeSt.com. “Smaller users are willing to pay a little bit more to be in a good building that services their needs, so the buildings get higher rental rates. It’s an underserved segment of the market that we’re trying to capture.”

The buildings, a mile south of I-55, were designed by Cornerstone Architects Ltd., of Itasca, IL, and are being constructed by Premier Design + Build Group LLC of Des Plaines, IL. The development is being marketed by Jeffrey Galante and Brian Vanosky of Lee and Associates.

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