CHICAGO, – June 23, 2015 – (RealEstateRama) — Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, announced that it has signed a new lease with Pet Food Experts for 98,785 square feet in its newly constructed warehouse building located in Des Plaines at 1780 Birchwood Avenue in Chicago’s O’Hare Industrial market. The lease will commence in Q3 2015.
Within close proximity to I-90 and I-294, the state-of-the-art warehouse and distribution building totals approximately 140,000 square feet, featuring 32′ clear height, ample loading, trailer parking, and auto parking. The property is designed to serve the significant demand for warehousing, assembly, and distribution uses, and was built to a LEED standard.
Scott McKibben, Co-Founder and Chief Investment Officer of Brennan Investment Group stated, “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. The building’s rapid lease up is a testament to both the quality of the asset and the strength of the market.”
“We were pleased we could provide a best-in-class facility for our tenant,” said Kevin Brennan, Vice President of Acquisitions at Brennan Investment Group. “This facility will support their growth and efficiency due to its proximity to the interstate system and Chicago’s O’Hare International Airport.”
The Colliers International team of Jonathan Kohn and Thomas Rodeno represented Brennan Investment Group, and Daniel Smolensky, SIOR of Modal Group represented Pet Food Experts in this transaction. Keeley Construction was Brennan’s general contractor.