Brennan Investment Group and its co-developer Greenfield Partners are expecting to break ground on the billion-dollar Elk Grove Technology Park by spring 2018.
This announcement follows the acquisition of an 86-ac. property in Elk Grove Village, listed as the O’Hare submarket’s largest infill site.
The upcoming park consists of nine facilities with floor areas varying from 75,000 to 250,000 sq. ft. Each building will feature a high-end glass facade with precast construction, as well as pre-installed systems and fixtures that meet the demands of a data center.
According to the development’s official website, it is strategically “located at a convergence of national fiber optic cables, national gasoline and oil pipelines, and virtually unlimited fresh water supply.”
Aside from having amenity-rich facilities, the park’s outdoor spaces are to be landscaped with ponds, water features, sculptures, bike paths, and pedestrian walkways.
Since it was first announced in August 2017, Brennan Investment chairman Michael Brennan claimed the development has already attracted a “tremendous” amount of interest from new data centers and high-tech manufacturers.
He said that upon its completion, Elk Grove Technology Park has the potential to become the “greatest industrial park in the U.S.”
Although the project has a significant industrial component, Brennan’s commitment to data centers is out of the ordinary as he was always focused in industrial projects. However, he explained this move “is like going from a Michelin 2-star rated restaurant to a Michelin 3-star rated restaurant.”
Terms of the acquisition were not disclosed.
