CHICAGO—Industrial demand in the Chicagoland region has been quite strong so far this year, and many think the market can absorb even more space. Bridge Development Partners, LLC, for example, has just signed leases with four tenants totaling more than 246,000 square feet in two industrial buildings delivered in July 2015.

“We absolutely do think it continues to be a strong market to launch speculative products,” Steve Groetsema, principal at Chicago-based Bridge, tells GlobeSt.com. “Not just because of the micro view of the leasing activity that we have seen alone, but because the market really has not been overbuilt whatsoever when you compare how much has been delivered to historical absorption over the last decade or so.”

All American Containers of the Midwest signed a long term lease for 51,624 square feet at Bridge Point 94 Building I, located at 851-899 E. Park Ave. in north suburban Libertyville. This lease brings Bridge Point 94 I to 49% occupancy. A subsidiary of Miami-based All American Containers, one of the largest suppliers of rigid packaging in North America, the company is expanding from their current location in Lake Forest. All American was represented by Keith Puritz of Avison Young, as well as Rob Wheeler, Juan Rodriguez and Sky Groden of Cresa. Bridge was represented by John Hauser, Michael Fonda and Hugh Williams of Avison Young.