Assets were formerly part of RJ Reynolds Whitaker Park Campus
Winston-Salem, NC March 2, 2022 – Brennan Investment Group (“Brennan”), a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States has acquired an 82,000 SF building on the former RJ Reynolds headquarters campus known as Whitaker Park in Winston-Salem, North Carolina. The building is located at 4035 Reynolds Court within the 52-acre Whitaker Park.
Brennan has also acquired 8.85 acres immediately adjacent to 4035 Reynolds Court and will build a state of the art 110,000 square foot distribution building. Whitaker Park has seen a revitalization in recent years with research, technology, manufacturing, and distribution users seeking to locate near top research universities, major interstates, and populations with high disposable incomes and high educational attainment levels.
“This is classic in-fill real estate with powerful demographics,” observed Rob Gage, Senior Vice-President of Brennan Investment Group. “The business plan is to redevelop the existing building and, at the same time, begin preparations for our new 110,000 square foot distribution asset. We expect renovation of the existing building to be complete by April. Our new development should be delivered by November 2022. Tenant demand has been robust.”
“Our strategic plan for capital deployment identified the ‘Piedmont Triad Area’ of North Carolina as a high priority for increased investment,” stated Scott McKibben, Brennan’s Chief Investment Officer. “The area’s demographic transformation over the last ten years has resulted in industrial space absorption that exceeded the national average. I do not see that stopping anytime soon. This market has a long way to run.”
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 or developed $5 billion in industrial real estate in 30 states. The company’s current portfolio spans 27 states and encompasses approximately 46 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The company has 11 regional offices throughout the United States and the firm’s management team is among the most accomplished in its industry, having invested in over 5,000 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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