Business Specialties Development
JV to Develop 162,000-SF Office Building near Chicago
Nov 20, 2008
By: Elena Gontar, Staff Writer

Bridge Development Partners L.L.C. in partnership with Globe Corp. will develop 555 Corporate Center, a 162,000-square-foot, four-story speculative office building at 555 Aptakisic Road in Lincolnshire, Ill.  Plans call for the Class A office facility to be LEED certified by the U.S. Green Building Council.

The facility is situated on a 12-acre site west of Milwaukee Avenue and on the north side of Aptakisic Road, directly north of Bridge’s Aptakisic Creek Corporate Park industrial development in Buffalo Grove.

The developer plans to break ground this fall and anticipates a fourth quarter 2009 completion.

“When complete, our development will be the only available LEED-certified, ‘Class A’ office building in Lake County,” Anthony Pricco, Bridge principal said in a release.  “We think market fundamentals are strong for new office development in this historically strong submarket.”



 
Recent Development Headlines
Construction Industry Faces Hard 2009
The equity markets dropped considerably Monday morning, but then yo-yoed around for the rest of the day--small fluctuations, really--and ended up slightly down, for the first time in four trading sessions and the first time this year. The Dow Jones index dropped 76.7 points, or 0.85 percent, while the S&P 500 dropped 0.35 percent and the Nasdaq lost 0.49 percent.
Bibby Takes Over as Grosvenor CEO
Andrew Bibby has assumed the role of CEO for Grosvenor Americas, the U.S. and Canadian operations are of private property development, investment and fund management firm Grosvenor Group. Bibby previously served as the firm’s chief development officer.
don and bryan As Phoenix Light Rail Debuts, Will T.O.D. Get on Track?
Phoenix's $1.4 billion, 20-mile light rail system carried its first passengers on Dec. 27th, and real estate professionals believe that development opportunities around the line’s 20 stations are significant; Valley Metro, which operates the system, projects the system will initially carry 26,000 passengers a day.
brooklyn bridge $48M First Phase of Brooklyn Bridge Park Project Breaks Ground
Reusing and revitalizing Brooklyn’s deteriorated East River waterfront began with a groundbreaking in February on the piers area and now a $48 million contract was awarded to Skanska for Phase I of the Brooklyn Bridge Park project in New York City.
International Groups to Tackle Affordable Housing as Global Real Estate Challenge
On a global level, there are no geographical boundaries when it comes to affordable housing shortages. And with that topic in mind the United Nations Economic Commission for Europe recently held a seminar in New York City along with its Real Estate Market Advisory Group and the International Real Estate Federation to address the affordable housing issue and the role it can play in rebuilding the real estate market.