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Bridge, Hillwood Close On 5 Chicagoland Industrial Projects

CHICAGO - Bridge Development's joint venture partnership with Hillwood Development has closed on five transactions totaling about $80 million in Chicagoland.

By Chip Barnett | Updated on January 28, 2013

   CHICAGO – Bridge Development Partners LLC has closed on five Chicagoland transactions in a joint venture with Dallas-based Hillwood Development Co.

   The transactions are comprised of five industrial real estate projects totaling nearly 900,000 square feet and valued at $80 million.    The deals included   600 Corporate Woods Dr. in Vernon Hills, a 103,000 square foot industrial building;   4350 Pinehurst Blvd. in Addison, an industrial property totaling 85,800 SF;  2727 E. Higgins Rd. in Elk Grove, a vacant 184,406 SF industrial facility  Bridge plans to redevelop into an air cargo building;  2201 Lunt Ave. in Elk Grove Village, a 212,200 SF industrial facility also scheduled for redevelopment into a speculative air cargo building; and   8424 W. 47th St. in Lyons, a 312,000 SF cold storage facility.    “Our joint venture partnership with Hillwood provides another capital source for our infill development strategy in Chicago and South Florida,” Steve Poulos, principal and co-founder of Bridge, says in a press release.  “We are excited about this relationship and look forward to completing many more transactions – between $150 million and $200 million per year – with Hillwood.”     Bridge is a privately owned Chicago-based commercial real estate development firm founded in 2000. Bridge has developed or acquired more than 5 million SF of industrial and office buildings in the Chicago and South Florida markets.

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