BRIDGE DEVELOPMENT ACQUIRES FORMER DOMINICK’S DISTRIBUTION SITE FOR $40M

NORTHLAKE, ILL. — Chicago-based Bridge Development Partners LLC has purchased a 55-acre business park in Northlake, a suburb of Chicago. According to Crain’s Chicago Business, Bridge Development Partners paid more than $40 million for the property located at 555 Northwest Ave. The facility formerly served as a distribution campus for the Dominick’s Finer Foods grocery chain. Safeway Inc. closed 72 Dominick’s stores in the Chicago area in December 2013. Bridge is marketing the park as Bridge Point Northlake. The firm plans to retain two existing buildings in the park: a 162,000-square-foot cooler facility and a 135,000-square-foot freezer facility that will be expanded by 104,120 square feet. Each property features 32-foot clear heights and each is available for lease with immediate occupancy. Additionally, Bridge will raze obsolete buildings to make way for a new state-of-the-art, 588,284-square-foot distribution center featuring 36-foot heights; a power feed of 4,000 amps; an ESFR sprinkler system; 85 dock positions (expandable to 170); 200 parking spaces, also expandable; and 112 trailer stalls. The new building will be delivered in the third quarter of 2015. John Suerth and Jason Lev of CBRE represented Safeway in the sale of the park and have been retained for the marketing of all three properties at Bridge Point Northlake on behalf of the developer.