Chicago Freezer Facility Lands New Tenants
Frozen Assets Cold Storage will occupy more than 50 percent of Bridge Point Northlake, a cold storage facility in Northlake, Ill. The lease was brokered by Bridge Development Partners.
By Mihaela Coste
Bridge Point Northlake, Northlake, Ill.
Bridge Development Partners brokered the lease of 130,000 square feet of space at Bridge Point Northlake, a 256,752-square-foot cold storage facility in Northlake, Ill., to Frozen Assets Cold Storage. Lease terms remained undisclosed.
Bridge Point Northlake is located at 555 Northwest Ave., minutes away from O’Hare International Airport and with immediate access to interstates 294 and 290. Interstates 90, 88 and 355, as well as the Union Pacific Intermodal and the Canadian Pacific Intermodal, are also nearby.
Asset Characteristics
The property features insulated ceilings, HVAC, ESFR sprinkler system, 36-foot clear height, grade-level and dock-high loading doors. According to Yardi Matrix data, PGIM Real Estate acquired the property from Bridge Development Partners for $48.7 million in January 2016.
Earlier this year, Premier Design + Build Group completed a 110,439-square-foot expansion of the asset, helped by two other companies involved in the project: Cornerstone Architects, which provided architectural services and Structure-Logic, which brought the engineering expertise.
Chicago-based Frozen Assets Cold Storage provides cold storage, freezing, blast freezing, exporting, labeling and cross-docking services, the current lease representing an expansion of the company’s business.
Image courtesy of Bridge Development Partners
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