Chicago & Midwest + Greater Chicagoland + Industrial | February 12, 2021

Bridge Acquires Two Properties for Future Schiller Park Development

Bridge Development Partners has acquired two properties that will become the future site of Bridge Point Schiller Park III and IV in Schiller Park, IL, within the O’Hare submarket. The locally based developer acquired the properties from the future tenant at another Bridge property.

Bridge agreed to buy the buildings as part of a long-term lease transaction with Duravant, a global engineered equipment and automation solutions provider. Duravant recently announced the introduction of nVenia, LLC, a new operating company that is a combination of Arpac, Hamer-Fischbein and Ohlson Packaging.

This new company will be headquartered in 265,000 square feet at the Bridge Point Wood Dale facility. As part of its operations strategy, Duravant will be vacating the Schiller Park properties and reached a sale agreement with Bridge, which will demolish the buildings to make way for two new ones.

Cushman & Wakefield’s Steve Stone and David Friedland represented Duravant.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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