Over $75 Million of Development in Salt Lake Over Last 18 Months
Brennan Investment Group, a private real estate investment firm that acquires, develops and operates industrial facilities throughout the United States, has announced the acquisition of 32.57 acres located at 5933 West 2100 South in Salt Lake City, Utah, which is situated within the combined Airport, California Avenue and West Valley submarkets, largest and most diverse industrial concentration in the Salt Lake City region.
This site is situated at the southwest corner and will have direct access to the intersection of both Highway 201 and the Mountain View Corridor, which is currently under construction. It will have frontage on both Highway 201 (east-west) as well as the newly constructed Mountain View Corridor (north-south).
Brennan’s strategy is to develop two modern rear load multi-tenant Class-A industrial facilities, a shallower building with 190’ depth and a deeper building with 270’ depth, totaling approximately 397,600 rentable square feet.
“We project shell completion by second quarter 2022.” said Brian Roach, Managing Principal at Brennan Investment Group. “This will be the second project in the Salt Lake City area for Brennan and we will be employing the same design-build team from our first development in the area.”
“Utah is the fastest growing state in the country with a net increase of roughly 400,000 people moving into the state in the last 10 years.” said Scott McKibben, Chief Investment Officer, Managing Principal. “This population boom combined with the increased e-commerce and safety stock demand drivers have made this development viable and necessary.”
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $4 billion in industrial real estate. The company’s current portfolio spans 29 states and encompasses 44 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm’s management team is among the most accomplished in its industry, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.
©2024 Brennan Investment Group. All rights reserved.