Groundbreaking Set for Fourth Quarter of 2013
Brennan Investment Group, LLC, a private real estate investment firm that acquires and operates industrial properties on a national basis, announced its acquisition of approximately 11 acres of land for Brennan’s second speculative development project in Houston. Located near the intersections of 1-45 and FM-1960, in Houston’s North submarket, Brennan will construct three crane-ready office warehouse buildings totaling 110,000 square feet, each with ample yard area for outside storage. The properties are designed to serve the significant demand for manufacturing, assembly, and distribution uses.
“We made a strategic decision to allocate a significant portion of our capital to the ‘Texas Triangle’ cities and Houston in particular,” said Michael Brennan, Chairman and Co-Founder of Brennan Investment Group. “The economic vitality of the Texas economy seems poised to outperform many other regions of the U.S., and the benefits to the industrial real estate market are manifested in 16 consecutive quarters of positive absorption and a 92.5% occupancy rate.”
“Located just east of I-45 with frontage on FM-1960 and Bammel, and one mile west of Hardy Toll Road, the site has both excellent access and great visibility from three major thoroughfares,” said Troy MacMane, Managing Principal and Co-Founder of Brennan Investment Group. The site is also in close proximity to the new ExxonMobil headquarters campus, a development that will accelerate further investment in the area.
Since 2012, Brennan Investment Group has purchased 21 buildings in Texas, in markets that include Houston, Dallas, and Austin.
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