By Ioana Neamt, Associate Editor
Brennan Investment Group‘s new industrial spec building in suburban Chicago is now fully leased.
Not long after signing a 98,785-square-foot lease with Pet Food Experts at the site, Brennan has signed another 40,460-square-foot lease with Cambria Co. at its new warehouse building in Des Plaines, Ill. Jonathan Kohn and Thomas Rodeno of Colliers International represented Brennan in the deal, while Cambria was represented by Britt Casey and Al Caruana of Cushman & Wakefield. Both leases will commence by late Q3 2015.
Located at 1780 Birchwood Ave. in Cook County, the 140,000-square-foot, state-of-the-art industrial building features 32’ clear height, eight exterior dock doors expandable to 13, ESFR sprinkler system, as well as trailer and auto parking. The warehouse and distribution building is also LEED certified, and provides easy access to both I-294 and I-90, according to Colliers International.
Brennan purchased the roughly 8-acre site back in 2013 with DLJ Real Estate Capital Partners. Keeley Construction served as general contractor for the speculative development.
“The Chicago Industrial market has demonstrated strong fundamentals, evidenced by 19 consecutive quarters of positive net absorption with the O’Hare market in particular showing elevated levels of absorption,” Scott McKibben, co-founder & chief investment officer at Brennan, said in a statement.
Image courtesy of Brennan Investment Group