Elk Grove Engineering Park now totally leased as most current company moves in

Less than four many years following builders broke ground on what had extended been the Busse household farm, the Elk Grove Technological know-how Park is now fully leased with the style of significant-tech producing they envisioned there.

Brennan Expenditure Group, the Rosemont-based mostly developer of the substantial $1 billion, 85-acre tech park, just leased its remaining 61,000 sq. toes of spec warehouse space, Elk Grove Village Mayor Craig Johnson mentioned Wednesday at the ribbon-slicing for the park’s most current tenant to transfer in, Dexter Magnetic Systems.

“If we reported a lot more than a few years ago that at the starting of 2022 we would be (entirely leased), we would’ve been jumping up and down and kissing every single other,” Johnson mentioned. “Am I happy? I am a very pleased papa.”

Dexter, which layouts and manufactures magnetic items and assemblies for the healthcare, aerospace, defense and semiconductor industries, was outgrowing its 50,000-sq.-foot factory on Morse Avenue, reported President and CEO Joe Stupfel. The corporation, established in 1951 as Permag Corp., began as a magnetic goods distributor, but step by step grew to manage extra complex assemblies in extra demanding markets, he stated.

Immediately after evaluating 16 unique web pages in Cook dinner and DuPage counties, Stupfel settled on the just one just two miles absent in the tech park, using into account fees more than the program of a extended-phrase lease and proximity to his 200 employees.

The company’s new 82,000-square-foot residence at 801 Innovation Push can take up a small extra than fifty percent of 1 of the 4 divisible tech park buildings. It overlooks a pond dotted with large elk statues along chaotic Higgins Street, the place developers are planning to build a hotel and possible retail space as portion of the final section of the tech park advancement.

Stupfel reported the business place a six-thirty day period pause on its enlargement ideas throughout the pandemic — at first pondering the business would transfer to a neighboring constructing — but restarted leasing talks the moment enterprise in the industrial aerospace industry began to tick up final calendar year.

Brennan marketed 36 acres on the east side of the former farm residence to Microsoft for $52.2 million in 2020 — where by development continues on the very first of three planned information centre buildings totaling 400,000 sq. ft. It truly is in which President Joe Biden frequented past Oct to urge COVID-19 vaccinations on the construction web site of Clayco.

Johnson claimed exterior framing is finish on the to start with Microsoft constructing, and plans have been submitted to village hall for the 2nd.

Brennan also marketed its 165,000-sq.-foot developing together Oakton Avenue to T5 Knowledge Facilities, which was between the very first companies to open up in the park. Firms that have inked leases include things like Broetje-Automation, a German aerospace producing agency and Cosentino Group, which would make surfaces for bogs and kitchens.

Dexter officers led tours of their new area Wednesday afternoon, showcasing the expansive shop flooring wherever second-shifters had just begun their workday. Amid the perform staying finished: employing devices to slice and grind steel blocks, or ingots, into scaled-down magnets. One particular of the merchandise Dexter tends to make is a little gold-plated magnet that is a core element of a professional medical system valve, which helps decrease fluid buildup on the brain.

Dexter just included new grinders and saws inside of the new making, and has an additional 20,000 sq. ft of empty room to grow should there be demand from clients.

“With this larger sized footprint, we have a greater capability to streamline and increase our processes,” Stupfel explained.