Bridge Development Partners, LLC Acquires Wood Dale Office Property In 2019 Transaction

The property at 700 N Wood Dale Rd, Wood Dale, IL, is a 21.8-acre site that will be transformed into "Bridge Point Wood Dale," featuring two industrial facilities totaling 342,266 square feet. The site currently houses four vacant single-story masonry office buildings, which will be demolished to make way for a speculative industrial building and a build-to-suit facility for Forward Space, LLC.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: Not specified
• Address: 700 N Wood Dale Rd, Wood Dale, IL
• Market: Wood Dale
• Seller's Representatives: Matthew Stauber - Colliers International, Thomas Rodeno - Colliers International
• Buyer: Bridge Development Partners, LLC
• Tenant: Forward Space, LLC
• Expected completion: 241,888-square foot spec building by end of 2019, 100,378-square foot build-to-suit for Forward Space by March 2020

Matthew Stauber and Thomas Rodeno represented the seller in the transaction. Bridge Development Partners, LLC looks to develop state-of-the-art facilities at the site, with Forward Space consolidating its existing locations into a new office and warehouse space on the property. The location benefits from proximity to major transport routes, enhancing its appeal within the Chicago-O'Hare submarket.