Nation’s premier industrial park reaches 75% absorbed; Occupants include data centers and firms utilizing robotics
Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, has secured a long-term lease with SCREEN Americas at the Elk Grove Technology Park. This facility will serve as their North American headquarters and feature a leading edge, Customer Experience Center.
Mike Sedjo, Jack Brennan, and John Hamilton of CBRE represented Brennan Investment Group. Joe Bronson of NAI Hiffman represented SCREEN Americas, a leading provider of production-class inkjet printing technology.
“We are thrilled to have SCREEN join us at the Elk Grove Technology Park,” said Scott Gibbel, Vice President at Brennan Investment Group. “This transaction further validates the robust demand from users seeking a world-class industrial park. SCREEN Americas is emblematic of our targeted user for Elk Grove Technology Park – companies utilizing technologically advanced techniques in traditional industries that embrace robotics and automation to grow their businesses.”
SCREEN Americas will occupy 44,198 square feet of a 151,693-square foot building. “We’re at a point as a technology provider where we’ve moved from serving markets primarily through partners just a few years ago to now primarily serving customers directly,” said Ken Ingram, President at SCREEN Americas. “That evolution will only accelerate along the path of new markets and new solutions charted by our development roadmap. It was important that our physical environment reflect that commitment to innovation and full end-to-end solutions for our customers.”
Elk Grove Technology Park is situated on 85 acres in Elk Grove Village, Illinois. The Park is well-located, with proximal access to I-90, I-294 and I-390, O’Hare International Airport and a large and diverse labor pool. In addition, it features an amenity-rich infrastructure of ponds, water features, sculptures, bike paths and pedestrian walkways, providing an optimal environment for employee attraction and retention. The Park is situated in the O’Hare industrial submarket, which has an industrial base of approximately 111 million square feet and a vacancy rate of 2.83% in Q1 2020, according to CBRE.
“We have witnessed an incredible level of absorption at Elk Grove Technology Park. Since the completion of Phase I in Q4 2019, nearly 75% of the Park has been absorbed through a combination of land sales, building sales, and leases,” said Kevin Brennan, Managing Principal at Brennan Investment Group. “This strong demand is driven by the Park’s location, modern functionality, and unrivaled Park amenities. It is the perfect development to serve a tenant base that is increasingly technology enabled.”
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