Bolke Miller Company signs Waukegan lease
Bolke Miller Company, a packaging company, will anchor a new 544,000-square-foot development in Waukegan while the developer launches new 180,000 and 230,000 square-foot buildings.
CBRE recently represented BMC and the landlord, Bridge Development, in a 308,000-square-foot lease in the new facility at the 225-acre Bridge Point North development.
BMC will anchor a new development at 1350 Bridge Drive. Scheduled for completion in the first quarter of 2019, the property will offer 36-foot clear heights, 42 exterior docks and 21 trailer positions.
BMC, a contract packaging firm that specializes servicing Fortune 500 companies in the snack, health food and beverage industries, will be increasing its footprint in the area with this move from 255,000 square feet to 440,000 square feet across multiple facilities.
Whit Heitman of CBRE represented BMC in the transaction and Sam Badger, Brad Weiner and Jared Paff of CBRE represented the owner Bridge Development, in partnership with Banner Oak Capital Partners, Wanxiang America Real Estate Group and Globe Corp.
"This was an excellent opportunity for BMC to upgrade its facilities and provide growth, while still maintaining its excellent location and labor force," Heitman said.
This new lease will launch phase two of the project's development, as Bridge Development will be delivering two more speculative developments to coincide with BMC's new location.
At 3971 Lakeside Drive, Bridge will launch at 154,266-square-foot facility with 57 exterior docks and at 1550 S. Waukegan Road the developer will begin construction on a 228,252-square-foot building with 59 exterior docks. Both are set for completion in early 2019.
"We continue to see increasing demand in this area and these new facilities will be very attractive to firms that want a premier position along the logistics corridor between Chicago and Milwaukee," said CBRE's Badger. "The park has gotten off to a great start and we expect to see the second phase generate the same level of interest."
Phase one of the project delivered 1,025,000 square feet in 2017 and is occupied by firms such as Medline and Visual Pak. There is 262,424 square feet of phase one still available.