Overall Portfolio Grows to over 33 Million Square Feet
Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, has acquired a 20-building industrial portfolio totaling 2,089,577 square feet across nine states with the majority of the assets in Chicago, Kansas City, and Pittsburgh. The portfolio is 100% leased and consists primarily of warehouse, distribution and light manufacturing facilities.
Scott McKibben, Chief Investment Officer at Brennan Investment Group, stated, “The acquisition of this large portfolio demonstrates the competitive advantage of our national platform which allows us to source and underwrite assets in multiple markets across the country. We will actively manage these properties from our eight offices across the United States.”
“Functional and mission-critical real estate, priced below replacement cost are key criteria in delivering stable, long-term cash flow for our investors,” said Ryan O’Halloran, Vice President at Brennan Investment Group. “Located in strong submarkets with high occupancy rates, we felt we had the right ingredients for a successful transaction.”
“The U.S. industrial markets continue to demonstrate strength, with nearly every major market posting positive absorption and low vacancies,” added Scott McKibben. “Growing tenant demand from e-commerce and automated manufacturing suggest that the fundamentals of our industry will remain strong in the future.”
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