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Bridge Picks Up 4-Building Center in I-55 Corridor
Bridge Development Partners has acquired Fountain Square Commerce Center, a four-building, 740,700-square-foot logistics center in Bolingbrook, IL, from Conor Commercial Real Estate, which cited a price of $73.5 million. Bridge plans to develop a fifth, speculative building at the site.
The Fountain Square sale was brokered by a Colliers International team of Jeff Devine and Steven Disse, who represented Conor and partner LaSalle Investment Management. Bridge has retained a Colliers team led by Jim Estus and David Bercu as the exclusive marketing and leasing agent for the property, located in the I-55 industrial corridor.
“Bridge saw an opportunity to add value by acquiring the site and making strategic improvements through new development and enhanced leasing operations,” said Bridge’s Steve Groetsema.
Upon closing, Bridge signed two new leases totaling 132,000 square feet: 98,400 square feet with Bulletproof Logistics, the 3PL’s first Chicago-area location; and 33,900 square feet with Industrial Battery Products.
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- ◦Sale/Acquisition
- ◦Lease
