NAI Hiffman Completes Lease with Major E-Commerce Company for 575,000 Square Feet of Last-Mile Warehouse Space in Chicago Suburb

BridgePoint 290 Buildings I and II, total 575,000 square feet and are located at 1400 South. Laramie Avenue, in Cicero, less than eight miles from downtown Chicago.

Mark Moran

OAKBROOK TERRACE, IL— NAI Hiffman, the largest independent commercial real estate services firm in the Midwest, announced it completed a lease for an undisclosed major e-commerce company for two new last-mile industrial buildings in Cicero, Ill., a western suburb of Chicago. 

The two buildings, known as BridgePoint 290 Buildings I and II, total 575,000 square feet and are located at 1400 S. Laramie Ave., less than eight miles from downtown Chicago.

NAI Hiffman’s Mark Moran and Steve Connolly, executive vice presidents, and Brett Tomfohrde, senior associate, represented owner Cabot Properties in the deal. 

Steve Connolly

Cabot originally bought the 33-acre site in 2018 from Bridge Development Partners, which managed the development and construction of the two buildings, completed at the end of 2019. 

The new tenant is making additional improvements to both buildings, which it plans to use for its last-mile e-commerce fulfillment needs.

 The tenant was represented locally by Jason West, vice chair of the Chicago office of Cushman & Wakefield.

“This is another example of the continued demand for infill industrial redevelopment, particularly when it is well-located,” said Moran. 

Jason West

“We saw the potential in this location six years ago, when we first did an analysis of it for an earlier owner. 

"It offers quick access to a Chicago customer base and a strong local labor pool, both of which are attractive to this tenant and other e-commerce players wanting proximity to major population centers.”

Building I comprises 343,090 square feet, including more than 4,000 square feet of office space, plus 49 exterior docks (expandable to 69) with 36-foot clear heights, 94 trailer positions and parking for 303 cars. 

Building II has 232,845 square feet, with space for build-to-suit offices, along with 37 exterior docks (expandable to 45), 36-foot clear heights, 62 trailer positions and parking for 198 cars.

Brett Tomfohrde

Both buildings are located less than a mile from I-290 and five miles from I-55. Midway International Airport is less than six miles from the site, and O’Hare International Airport less than 15 miles from the site.

CONTACTS: 

Patty Cronin, pcronin@taylorjohnson.com, (312) 267-4513 

Gretchen Muller, gmuller@taylorjohnson.com, (312) 267-4511

www.hiffman.com.

Centurion American Acquires Little Elm's Spiritas Ranch Residential Development in Farmers Branch, TX

Mehrdad Moayedi

FARMERS BRANCH, TX – Centurion American Development Group, a privately held Texas-based real estate development company owned by Mehrdad Moayedi, announced the acquisition of 522.85 acres of the Spiritas Ranch property from Spiritas Ranch Enterprises, a privately held firm owned by the father and son team Steven & Jason Spiritas, along with a separate additional 23 acre tract.

The development will be located off Highway 380 in Little Elm.

Steven Spiritas 

 “We have enjoyed working with Steven Spiritas and his team to complete this purchase,” explained Centurion American’s Moayedi. 

“We are very optimistic about the possibility further growth and development in Little Elm, and are proud to be a part of that story.”

 The planned Spiritas Ranch residential portion of the development is slated to include approximately 2,115 single-family homes and two upscale amenity centers. 

Adjacent to the upcoming master-planned community are various acres zoned for commercial additions retained by Spiritas Ranch.  Builder partners are unnamed at this time.

 “Spiritas Ranch represents the future of Little Elm. The most valuable intersection in this area will now be where the Ryan Spiritas Parkway exits 380 and over FM720,” explains Spiritas. 

Ryan Spiritas 

“We are proud to share this important parcel and are excited about the future of this development that Centurion American will bring to fruition.”

  As Spiritas Ranch develops, the Ryan Spiritas Parkway will become a four-lane urban highway, named to honor Steven Spiritas late son. This throughway will ease the flow of traffic in this developing area.

Construction on the Spiritas Ranch project is expected to begin in Q1 2021.

For more information, or for hi-res renderings, please contact Kelly Hunter at kelly@shiromasouthwest.com or 972-732-6100.

  CONTACT:

Kelly Hunter

shiroma | southwest

 16300 Addison Rd., Suite 210

Addison, TX 75001

Phone 972-732-6100

Fax 972-732-0386

Mobile 972-489-4361

kelly@shiromasouthwest.com