Builds 411,000 square foot distribution facility. Purchases 5 surplus assets in Port St. Lucie.
Brennan Investment Group has announced the completed development of a 411,000 square foot industrial distribution building located in Port St. Lucie, Florida for City Electric Supply/Tamco, a manufacturer and distributor of lighting and electrical equipment products sold through City Electric Supply branches throughout the country. The industrial facility, with over 40,000 square feet of office, will also serve as the North American Manufacturing Headquarters for City Electric Supply.
As part of the overall transaction with City Electric Supply/Tamco, Brennan purchased five buildings in different locations throughout Port St. Lucie. Upon completion of the new facility, Tamco vacated these properties. Brennan, in turn, sold these properties to a local Florida investor through Brennan’s national buyer contacts.
“We are pleased to be able to complete another complex transaction for a corporate user,” said Troy MacMane, Brennan Investment Group’s Southwest Managing Principal and Co-Founder. “Increasingly, over the past several years, Brennan has completed more transactions designed to improve supply chain efficiency and monetize surplus assets for corporate owners.”
Brennan’s platform currently covers 29 states in 68 cities, with a total of 44 million square feet. This national coverage enables Brennan to help corporations improve their supply chains and dispose of surplus assets throughout the United States.
“Corporations are the largest owners of industrial assets in the United States,” said Tod Greenwood, Southwest Managing Principal and Co-Founder at Brennan Investment Group. “Brennan intends to use its national platform to bring solutions to Corporate America.”
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