Absorption over 75% since completion of nation's premier industrial park
Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, has announced its long-term lease with Cosentino Group – a global, Spain-based producer and distributor of high value innovative surfaces for the design and architectural industries – at Elk Grove Technology Park. Cosentino will occupy 46,800 SF of a 128,550 SF building and this will serve as a primary warehouse and distribution facility for their Midwest operations.
Jack Brennan of CBRE represented Brennan Investment Group in this transaction. Cosentino Group was represented by Ruth Baker of Mohr Partners, Inc.
“We are excited to have a highly innovative and globally reputable company like Cosentino Group as a new, long-term customer at Elk Grove Technology Park,” said Kevin Brennan, Managing Principal at Brennan Investment Group. “We are very pleased with the level of leasing and sales activity at the Park since its recent completion in Q1 2020.”
“While we’ve had a strong presence in the Chicago market for many years, our new occupancy at the Elk Grove Technology Park will be instrumental in drastically improving our service levels and shipping times to our customers,” said Massimo Ballucchi, Executive Director of Marketing – Americas at Cosentino Group. “We are looking forward to the partnership with Brennan Investment Group and all the conveniences and amenities that this industrial development has to offer.”
The Elk Grove Technology Park is a state-of-the-art industrial development that spans 85 acres in the heart of the O’Hare industrial submarket, with convenient access to three major highways, O’Hare International Airport and a large and diverse labor pool. In addition to the buildings’ modern physical attributes, the Park features an amenity-rich infrastructure of ponds, water features, sculptures, bike and running paths, and pedestrian walkways.
“We have witnessed an incredible level of absorption at Elk Grove Technology Park. Since the completion of Phase I just months ago, over 75% of the Park has been absorbed through a combination of land sales, building sales and leases,” said Michael Brennan, Chairman and Co-Founder of Brennan Investment Group. “This robust demand is driven by the Park’s location, modern functionality, and unrivaled amenities. It is the ideal industrial development to serve a customer base that is increasingly technology enabled.”
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