Ridge Completes, Sells Chicago Industrial Building
- Mar 09, 2018
Ridge, the industrial development arm of Transwestern Development Co., has completed the newest industrial facility part of Brewster Creek Business Park in Bartlett, Ill. The 186,000-square-foot project was finalized within approximately half a year from the moment it broke ground in 2017.
According to an NKF statement, the buyer is Barings Real Estate Advisers, acting on behalf of an institutional investor.
“With strong market fundamentals and leasing velocity, the project is well situated for the competitive environment,” said Darcie Fankhauser, a senior vice president with Ridge, in prepared remarks.
The speculative project is located at 1331-1337 Schiferl Road, being easily accessible from interstates 290 and 355. The Chicago O’Hare International Airport is also less than 30 miles from the facility. Dubbed Ridge Brewster Creek II, the warehouse features a 32-foot clear height, ductilcrete floors, 35 loading docks, two drive-in doors and a 212-vehicle parking lot. The business park which hosts the facility spans 468 acres and also includes Ridge Brewster Creek I, a 271,000-square-foot building.
Triumph Construction Services Corp. was the project’s general contractor. Harris Architects Inc., with whom Ridge is collaborating on the upcoming O’Hare Gateway Logistics Center, provided the architect services. Eriksson Engineering Associate was the civil engineer.
Image courtesy of Transwestern