Brennan Investment Group Completes First Lease At Elk Grove Technology Park
Pipeline of leasing prospects grows larger as Phase One nears completion
CHICAGO, June 27, 2019 /PRNewswire/ -- Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, announced its long-term lease with Broetje-Automation, the first tenant of the Elk Grove Technology Park. Broetje-Automation is the world's leading expert in specialized production processes in the aviation and aerospace industry and will occupy 43,206 square feet of a 151,693 square foot building. The site serves as their U.S. headquarters and production facility for manufacturing and assembling robotic systems and automated composite manufacturing equipment. The property will feature a high-end glass façade, modern, pre-cast construction, state-of-the-art systems and fixtures, 32' ceiling clearance and ample loading and auto parking.
Kevin Brennan, Managing Principal at Brennan Investment Group, stated, "We are pleased to complete this lease with Broetje and validate the vision for our development: to provide a world class industrial park for high end users in tech-related industries and those in traditional industries that actively utilize technology within their company."
Ken Benczkowski, President of Broetje Automation-USA Inc., emphasized the importance of the project for the company's growth strategy, "Broetje Automation-USA has ambitious plans to increase our footprint in the North American market. With our new facility in Chicago, we will bring enhanced skills closer to our customers and will have the capability to manufacture and assemble products in the United States, including our latest robotic developments, our new products targeting composites applications, and other productivity driving technologies. We are looking forward to fully implementing this strategic step for our company and our customer base."
Elk Grove Technology Park serves as an ideal location, with proximal access to I-90, I-294 and I-390, O'Hare International Airport and a large and diverse labor pool. The park will include an amenity rich infrastructure of ponds, water features, sculptures, bike paths and pedestrian walkways, providing an optimal environment for employee attraction and retention. Phase One of the park consists of four buildings with a total of 524,583 leasable square feet remaining. Completion of the last building is targeted for the late summer of 2019.
"Industrial space users continue to utilize more technology," said Michael Brennan, Chairman and Managing Principal of Brennan Investment Group. "This is evident as we witness the rise of e-commerce, the increased use of robotics and automation in manufacturing, and the proliferation of data centers. We built Elk Grove Technology Park on the premise that this trend was only in its infancy. As such, a new type of park was needed to ensure that businesses can compete, prosper, and grow."
Mike Sedjo, Jack Brennan and John Hamilton of CBRE represented Brennan Investment Group in this transaction. Broetje-Automation was represented by Bill Lussow of Bespoke CRE.
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $4 billion in industrial real estate. The company's current portfolio spans 30 states and encompasses over 40 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm's management team is among the most accomplished in its industry, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.
Contact: Anna Mandarino, [email protected]
SOURCE Brennan Investment Group
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