HOFFMAN ESTATES, IL – Chicago-based, private real estate investment firm Brennan Investment Group has acquired two land parcels, totaling 21 acres, in Hoffman Estates, IL, with plans to develop a state-of-the-art, speculative industrial building.
Situated along Interstate 90, the development will comprise a 201,600-square-foot building on the larger, 17-acre site, and the company will simultaneously pursue build-to-suits on the smaller, four-acre site.
The properties offer access to the Chicago metropolitan area and are located 10 miles northwest of O'Hare International Airport.
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"The properties will have I-90 visibility and benefit from convenient access to I-90 at the Barrington Road interchange, and subsequently, to interstates I-290, I-294, and I-355, providing superior transportation routes for the end user, their customers and their employees," states Kevin Brennan, managing principal for the Midwest region at Brennan Investment Group. "As of Q4 2021, the overall Chicago industrial market contained approximately 1.2 billion square feet of industrial inventory, which equates to a vacancy rate of 3.3%."
"This transaction is illustrative of Brennan's preferred method of land acquisition: in-fill parcels in major markets whose submarkets have compelling fundamentals," says Scott McKibben, chief investment officer of Brennan Investment Group. "Brennan's overall development pipeline will exceed $1 billion in 2022."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
