Sale-Leaseback Yields Des Plaines Development Site for Bridge Industrial
Bridge Industrial acquired a 12.35-acre site in Des Plaines, IL, for the future development of Bridge Point Des Plaines, a 184,240- to 227,245-square-foot industrial facility in the O’Hare submarket.
The acquisition was completed as part of a sale-leaseback transaction with Nu-Way Industries, a global leader in precision metal product design and fabrication. Under the terms of this transaction, Bridge will acquire the building from Nu-Way, and retain Nu-Way as a tenant while it conducts a search for a new facility.
“This is a unique transaction, and we’re thrilled to have come to an agreement that suits both Bridge and Nu-Way’s evolving business priorities,” said Nick Siegel, partner at Bridge’s Chicago region.
The sale was brokered by Darwin Realty’s Rick Daly.
The announcement comes shortly after Bridge announced the acquisition of Bridge Point Melrose Park, a future three-building, 1,539,780-square-foot industrial campus also in the O’Hare submarket.
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).