Frozen Assets Leases 125 KSF Facility in Northlake, IL

CBRE’s Steve Livaditis represented the tenant, while John Suerth and Jason Lev worked on behalf of landlord Bridge Development Partners.
555 Northwest Ave.
555 Northwest Ave. Image courtesy of CBRE

CBRE has represented both parties in a 125,000-square-foot industrial lease in Northlake, Ill. Senior Vice President Steve Livaditis worked on behalf of tenant Frozen Assets Cold Storage, while Senior Vice Presidents John Suerth and Jason Lev arranged the deal on behalf of landlord Bridge Development Partners. This is the fifth transaction that CBRE arranges for the tenant.

The property is located at 555 Northwest Ave., just off Interstate 294. The nearby area is home to a number of warehouses for companies such as Microsoft, Grand Warehouse & Distribution and International Paper. According to a recent CBRE report, Illinois is one of the top 10 markets nationally for cold storage, offering 188 million cubic feet of space.

The Northlake asset is approximately 20 miles from another industrial property that Bridge Development owns. The company purchased the distribution facility at 6855 W. 65th St. last December and plans to redevelop it into a modern asset by the end of this year.

If you’d like to be featured in Brokers’ Corner, send your deal to deals@cpe-mhn.com.