Earlier this summer, Bridge Industrial acquired a future development site located in an infill market close to O’Hare International Airport in Chicago—an area that is very difficult to source industrial product for obvious reasons. How did Bridge Industrial accomplish this feat? It struck a sales leaseback deal with a company that was planning to vacate its building and didn’t care if it was demolished once it was gone. Bridge plans to build a state-of-the-art industrial facility in its place that can accommodate many different industrial uses.
At first glance this could just be a story about fortuitous timing. The seller, Nu-Way Industries, is currently looking for a new facility for itself and will remain at the site until its lease runs out.
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