Bridge Industrial Acquires Former Navistar Site for 1.5M-SF Development
Bridge Industrial has acquired an 86.63-acre site in Melrose Park, IL, for the development of Bridge Point Melrose Park, a 1,539,780-square-foot industrial project, from American holding company Navistar. In use since World War II, the site was previously home to Navistar’s manufacturing operations.
Navistar will lease back the property from Bridge for a short time, and Bridge expects to deliver the completed buildings in mid-2023. The largest of the three buildings will measure 707,953, reportedly making it the only site in the O’Hare submarket that can accomoodate a facility of greater than 500,000 square feet.
“We love working in O’Hare and continue to see success here because of the area’s unparalleled proximity to Chicago, as well as the prime interstate and airport access for freight, e-commerce, and logistics users,” said Nick Siegel, Partner of Bridge’s Chicago region.
Bridge Point Melrose Park will be Bridge’s 10th development in the O’Hare submarket.