Elk Grove Know-how Park now totally leased as most recent organization moves in
A lot less than 4 decades after developers broke ground on what experienced lengthy been the Busse household farm, the Elk Grove Technologies Park is now entirely leased with the style of substantial-tech production they envisioned there.
Brennan Investment Team, the Rosemont-based developer of the huge $1 billion, 85-acre tech park, just leased its remaining 61,000 square feet of spec warehouse space, Elk Grove Village Mayor Craig Johnson stated Wednesday at the ribbon-slicing for the park’s most up-to-date tenant to go in, Dexter Magnetic Systems.
“If we mentioned more than a few many years ago that at the starting of 2022 we would be (entirely leased), we would’ve been leaping up and down and kissing each and every other,” Johnson said. “Am I proud? I’m a proud papa.”
Dexter, which models and manufactures magnetic items and assemblies for the health-related, aerospace, defense and semiconductor industries, was outgrowing its 50,000-square-foot factory on Morse Avenue, mentioned President and CEO Joe Stupfel. The firm, established in 1951 as Permag Corp., began as a magnetic products distributor, but little by little grew to deal with extra complicated assemblies in much more complicated markets, he claimed.
Just after assessing 16 distinctive web pages in Cook and DuPage counties, Stupfel settled on the just one just two miles absent in the tech park, using into account prices around the study course of a lengthy-expression lease and proximity to his 200 workforce.
The company’s new 82,000-square-foot house at 801 Innovation Drive takes up a tiny far more than 50 percent of just one of the 4 divisible tech park buildings. It overlooks a pond dotted with large elk statues alongside occupied Higgins Road, the place builders are arranging to make a resort and feasible retail space as portion of the remaining stage of the tech park advancement.

























Stupfel said the business set a six-thirty day period pause on its growth designs throughout the pandemic — at first thinking the firm would shift to a neighboring constructing — but restarted leasing talks once small business in the commercial aerospace industry commenced to tick up previous yr.
Brennan offered 36 acres on the east aspect of the former farm home to Microsoft for $52.2 million in 2020 — in which development continues on the first of 3 prepared data centre structures totaling 400,000 square feet. It’s wherever President Joe Biden frequented very last Oct to urge COVID-19 vaccinations on the development web page of Clayco.
Johnson mentioned exterior framing is total on the initial Microsoft developing, and ideas have been submitted to village hall for the second.
Brennan also sold its 165,000-square-foot developing alongside Oakton Street to T5 Data Facilities, which was amid the initially firms to open up in the park. Corporations that have inked leases include things like Broetje-Automation, a German aerospace production organization and Cosentino Group, which would make surfaces for bathrooms and kitchens.
Dexter officers led tours of their new house Wednesday afternoon, showcasing the expansive shop flooring where next-shifters had just begun their workday. Amongst the function becoming performed: employing equipment to slice and grind steel blocks, or ingots, into smaller sized magnets. One particular of the items Dexter can make is a small gold-plated magnet that is a core component of a health care machine valve, which helps ease fluid buildup on the mind.
Dexter just included new grinders and saws inside of the new developing, and has an excess 20,000 square toes of empty area to develop really should there be demand from purchasers.
“With this much larger footprint, we have a far better skill to streamline and increase our procedures,” Stupfel reported.