Former Bridgestone office location sold in Bloomingdale

 
 
Updated 1/4/2019 7:47 PM
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  • An entity of Grace Capital Group, Inc. has purchased the three-story building along Lake Street in Bloomingdale that once housed Bridgestone Retail Operations LLC.

    An entity of Grace Capital Group, Inc. has purchased the three-story building along Lake Street in Bloomingdale that once housed Bridgestone Retail Operations LLC. Courtesy of Grace Capital Group, Inc.

An Oak Brook-based developer has purchased a vacant office building in Bloomingdale that last housed Bridgestone Retail Operations LLC.

Tom Grace, who co-owns Grace Capital Group Inc., said an entity of his company bought the three-story building at 333 E. Lake St. last week for an undisclosed amount. The plan is to attract new tenants.

"We feel we'll have some success leasing that building in the near future," Grace said. "We're ready to open the doors back up."

Bridgestone moved into the nearly 71,000-square-foot building after it was constructed in 2001. Village officials said the building became vacant about a year ago when Bridgestone moved to Nashville.

"Now with new ownership and the rebranding of the property, we believe that 333 Lake will have good potential for another corporate user," said Grace, adding the building will probably end up having multiple large tenants.

Grace said the company acquired the building in part because of its "unique and special setting."

Located next to Spring Creek Reservoir Forest Preserve, the property is surrounded by trees and near walking trails. Grace said he believes prospective new tenants will find the setting "very appealing."

He said the interior of the building is attractive with high-quality finishes, tall ceilings and plenty of natural light.

Grace Capital Group is planning to make several improvements to the property in the spring. New exterior lighting will be added, the parking lot will be resurfaced and the landscaping will be enhanced.

Grace said CBRE has been retained to market the building for lease. Sanders Commercial Real Estate in Wheaton will manage the building.

Pietro Scalera, Bloomingdale's village administrator, said village officials were aware of the sale and are planning to meet with the new owners next week.

"The village is glad the property has been sold and will work with the new owners," Scalera said.

Scalera said the building's continued use as office space "will bring jobs back to the community and employees who will hopefully shop and dine at our many businesses in town."

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