Brennan Investment Group, LLC has acquired a 30-building industrial portfolio in the Chicago market. The properties, totaling more than 2 million square feet, are located primarily in the O’Hare, Near North and Central DuPage submarkets.
“The Chicago industrial market continues to benefit from strong tenant demand, limited supply by historical standards, and accelerating rent growth,” said Scott McKibben, Brennan’s chief investment officer and managing principal, in a written statemetn.
“As of the fourth quarter of 2016, the Chicago metropolitan market reached a 20-year-high occupancy level of 96.1 percent, driven, in part, by positive absorption of over 19 million square feet,” McKibben added. “This marks Chicago’s 26th consecutive quarter of positive absorption.”