Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops and operates industrial properties, acquired the Woodlake Corporate Park in Lombard, Illinois.
Kevin Brennan, Vice President of Acquisitions at Brennan Investment Group said, "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."
According to company officials, this portfolio consists of seven industrial flex buildings totaling approximately 262,697 square feet in Lombard. The Property is located approximately 30 minutes from O'Hare International Airport and 20 minutes from Chicago's Central Business District with easy access to two major highways.
"Woodlake Corporate Park is strategically located in the East-West Tollway Submarket within the Suburban Chicago Metropolitan Area. The East-West Tollway Submarket consists of over 40.6 million square feet of inventory. The Chicago industrial availability rate reached historic lows and ended the quarter at 6.3%, down 30 basis points from last quarter," said Scott McKibben, Co-Founder/Chief Investment Officer for Brennan Investment Group.