Realty Mogul, the online marketplace for real estate investing connecting accredited and institutional investors to real estate investment opportunities, has successfully crowdfunded a large office park acquisition in Chicago, Illinois. Realty Mogul’s accredited investors contributed more than two million dollars through the online crowdfunding platform to help Brennan Investment Group acquire the Cumberland Metro Office Park.
“We are excited to partner yet again with Brennan Investment Group, which is nationally known for its expertise in identifying properties with desirable fundamentals,” said Jilliene Helman, CEO and Founder of Realty Mogul. “Brennan is particularly good at recognizing industrial and office properties that feature good tenant diversification, high occupancy rates, and which are in attractive markets. Cumberland Metro Office Park is another example of the diversity of commercial real estate properties that Realty Mogul has been able to offer.”
Located near the Chicago O’Hare International Airport, in the O’Hare submarket of Chicago, Cumberland Metro Office Park is a 164,448 square foot multi-tenant office complex comprised of 12 single-story buildings. The office park represented a unique opportunity to invest in a strategically located single-story office park in close proximity to the airport and featuring access to downtown Chicago via the highway and urban metro systems. The property has been historically well occupied and is one of only two single-story properties in the immediate area.
Based in Chicago, Brennan Investment Group will handle all aspects of the over $20 million dollar acquisition, including implementing a property management and leasing program and making improvements to the property.
“The acquisition of the Cumberland Metro Office Park was our second transaction with Realty Mogul. We continue to be pleased with the efficiency and reliability of crowdfunding in general, and Realty Mogul in particular,” said Michael W. Brennan, Chairman and founding partner of Brennan Investment Group and former co-founder and CEO of First Industrial Realty Trust.
