CHICAGO—Cold storage is one of commercial real estate's niche sectors, but it's also one where demand is high for new product. Bridge Development Partners, LLC, one of the leading providers for the Chicago region, has just secured a lease with Frozen Assets Cold Storage for 132,000 square feet at Bridge Point Northlake, its new 256,752 square foot facility in Northlake, IL.
Jason Lev and John Suerth of CBRE represented Bridge in the transaction. Steve Livaditis, also of CBRE, represented the tenant.
“We've seen a surge in demand for high-quality cold storage space, far in excess of new supply,” says Brian Niven, cold storage principal at Bridge. “In fact, Bridge Point Northlake is the only available freezer space of this scale inside I-290/294. We still have about 120,000 square feet to lease, but with this level of demand we're confident that the remaining space will go quickly.”
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
