Brennan Investment Group, a private real estate investment firm that acquires, develops and operates industrial facilities throughout the United States, announced the acquisition of an approximately 80,000-square-foot building situated on 8.83 acres in Woodridge, Ill.
The property, located within Chicagoland's Interstate 55 submarket at the intersection of I-55 and I-355, was acquired to address the region's shortage of functional small-bay industrial product. With a vacancy rate less than 1 percent among spaces under 50,000 square feet, the I-55 market is experiencing strong demand for flexible, smaller-scale facilities.
"We are very excited to capitalize on the fundamental shortage of functional small-bay and outdoor storage in the eastern I-55 submarket," said Dan Smith, senior vice president for Brennan's Chicago region. "The building's precast construction, along with its low building-to-land coverage, make it ideal for conversion into a small-bay industrial facil
