Industrial Real Estate Meets Data Centers
Industrial real estate and data centers have almost always been viewed as separate things. However, recent innovations in automated manufacturing and robotics have made certain industrial developers and investors realize the potential in utilizing data centers in their business.
In late July 2017, Brennan Investment Group announced plans for Elk Grove Technology Park, a $1B development on 85 acres in Elk Grove Village, Illinois. With an ever-increasing demand for data and cloud storage, Brennan Investment Group Chairman, Michael Brennan, said the Elk Grove Technology Park will accommodate a wide array of data center uses, helping solidify Chicago’s status as both a top industrial and data center market.
“When it’s completed, Elk Grove Technology Park may be the greatest industrial park in the U.S.,” Brennan said.
Recently, pure industrial has taken a backseat to data centers. Many traditional manufacturers have started to adapt tech into their business models, automating what used to be completely manual labor processes. However, industrial-heavy parks like Elk Grove proved to benefit from data centers, with improved fiber optic and utility infrastructure.
The Elk Grove Technology Park has since received an overwhelmingly positive response from prospective tenants. Brennan has signed enough nondisclosure agreements from companies to fill the park two times over.