Brennan Sells Prime Windy City Warehouse
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1780 Birchwood Ave., Des Plaines, Ill.
Des Plaines, Ill.—Brennan Investment Group LLC knows when to let go. Roughly one hear after opening the suburban Chicago warehouse at 1780 Birchwood Ave., developed in partnership with DLJ Real Estate Capital Partners, the private real estate investment firm has sold the 140,000-square-foot industrial facility to Morgan Stanley’s Prime Property Fund.
Located in Des Plaines, Ill., fewer than five miles from O’Hare International Airport, 1780 Birchwood sits on an 8-acre site that Brennan and DLJ purchased in 2013. With construction financing from The PrivateBank and Keeley Construction aboard as general contractor, the partners built the state-of-the-art facility as a spec project, and quickly attracted two tenants that claimed the entire tenant roster. Relying on the leasing expertise of Colliers International, which also represented Brennan in the sale transaction, the real estate company signed Pet Food Experts to a 98,800-square-foot lease in June 2015, and landed a commitment from quartz surfaces producer Cambria Co. for the remaining 40,500 square feet just three months later…
