Brennan’s Corporate Real Estate Services Division - that offers supply chain solutions to corporate America - sourced the transaction
– Located in the Piedmont Triad, the area’s strong demographics are driving increasing tenant demand
High Point, NC November 30, 2021 -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 210 N. Pendleton Street, a 324,650 square foot distribution facility in High Point, North Carolina. Purchased from Mannington Mills, one of the largest manufacturers of hardwood and laminate flooring, Mannington Mills will lease back 108,650 square feet and will retain their manufacturing operation in the facility. Brennan will redevelop and lease out the balance of the space. A highly functional building, with 32-foot ceiling heights, deep truck court depths, and ample land for truck and trailer storage, Brennan will add additional docks and will also asphalt additional areas for parking and trailer storage.
“Last year we created Corporate Real Estate Services (CRES), a Brennan division dedicated to the proposition that the United States will witness significant supply chain reconfigurations. The catalyst for these reconfigurations includes demographic changes, e-commerce, geopolitical matters, and the increased use of robotics and automation,” commented Michael Brennan, Managing Principal and Chairman of Brennan Investment Group. “We feel we are well suited to help Corporate America complete this task. We have a national platform, operated by career industrial specialists, whose skills in development, redevelopment and acquisitions are well known in our industry. This is an area where we can help Corporate America gain greater efficiency and where we can find accretive opportunities for our investment partners.”
Brennan’s CRES division is run by Scott Gibler, a thirty-year real estate industry veteran. Mr Gibler’s responsibilities include sourcing transactions nationwide and then working alongside Brennan’s regional personnel that provide local market intelligence and execute the asset management plan. “The High Point property is very well located, close to both I-74 and I-85 interchanges,” observed Rob Gage Brennan’s, Senior Vice President of the Carolinas. “Further, given our basis in the investment, this will allow us to offer a lower cost rental alternative to tenants in the Triad submarket.”
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.
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