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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