Brennan Investment Buys Industrial Park in Metro Chicago
- Sep 16, 2016
Chicago—Brennan Investment Group has acquired Woodlake Corporate Park, an industrial business park in Lombard, Ill.
Located near Interstate 355 Highway, within the East-West Tollway submarket, the property consists of seven industrial flex buildings totaling 262,697 square feet of available space. The properties are 30 minutes from O`Hare International Airport and 20 minutes from Chicago`s central business district, with easy access to 4-Way Interchanges at North Avenue and Roosevelt Road.
According to Scott McKibben, co-founder & CEO of Brennan Investment Group, the East-West Tollway industrial submarket consists of more than 40.6 million square feet of inventory.
“The Chicago industrial availability rate reached historic lows and ended the quarter at 6.3 percent, down 30 basis points from last quarter,” McKibben said in prepared remarks.
“This acquisition was an excellent opportunity to acquire an institutional-quality business park with the ability to add value through additional leasing of the vacant space,” added Kevin Brennan, vice president of acquisitions at Brennan Investment Group.
Image courtesy of woodlakecorporatepark.com