UBS Sells DuPage Corporate Park To Brennan Investment
Brennan Investment Group is adding to its local portfolio. The industrial investor paid $28.3M for a seven-building office and industrial park in DuPage County.
The seller is UBS Global Real Estate Management, which bought the 29-acre campus for $22M in 1999, according to Crain's. The development was built in the early '90s by Alter.
CBRE's Bill Novelli and Derek Fohl repped UBS, while Brennan was repped by Nicolson Porter & List's Adam Stokes and Brendan Hill. Brennan acquired the park as industrial real estate vacancies are reaching historic lows, leading in compressed cap rates for the sector. [Crain's]