Continues to expand corporate real estate initiative throughout the country
Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, announced its acquisition and simultaneous leaseback to BlueLinx of a 147,040 square foot industrial facility located in Denver, Colorado. BlueLinx is a leading distributor of building and industrial products in the United States and operates through a broad network of distribution centers. Brennan acquired this building for a short-term lease with future options of renewing, re-leasing, or redevelopment.
“We appreciate the opportunity to provide another corporate real estate solution for BlueLinx,” said Scott McKibben, Chief Investment Officer and Managing Principal at Brennan Investment Group. “This is the 11th BlueLinx facility we’ve acquired, bringing our total acquisitions with them to 4.4 million square feet. This transaction is indicative of our desire to work with corporations on customized real estate sales solutions.”
The facility is well-located in the I-70 corridor of the Denver metro area at the intersection of I-70 and I-225 and in close proximity to downtown Denver. The Denver market remains strong, as evidenced by 41 straight quarters of positive net absorption.
“With continued population and employment growth, Denver continues to sustain its position as an attractive market to invest in,” said Brian Roach, Managing Principal at Brennan Investment Group. “Growth fundamentals like this correlate to solid real estate performance and why we will continue to aggressively search for deployment opportunities here.”
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