CHICAGO, June 2, 2016 /PRNewswire/ -- Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops and operates industrial properties on a national basis, has acquired a seven-building industrial portfolio totaling 584,866 square feet. This portfolio consists of warehouse/industrial buildings located in the Sparks submarket of Reno, Nevada.
"We are pleased to complete the acquisition of this seven building portfolio in Sparks, Nevada, the strongest and largest industrial submarket in the Reno metropolitan area. The Reno/Sparks market is attracting new businesses due to an absence of state income taxes and its logistical position in the Northwest United States. Reno has seen 16 consecutive quarters of positive net absorption, and has a current vacancy rate of 5.9%, the lowest in 10 years," said Tim Gudim, West Coast Managing Principal at Brennan Investment Group.
Michael Brennan, Chairman and Managing Principal for Brennan Investment Group stated, "This acquisition is illustrative of our strategy to acquire functional, well-located assets, in demographically strong markets. The Reno market is strategically located at the epicenter of the western United States, within close proximity to air, truck and rail services."
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 nearly $1.3 billion in industrial real estate. The company's current portfolio spans 22 states and encompasses nearly 24 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.
Brennan Investment Group, LLC
9450 W. Bryn Mawr
Rosemont, Illinois 60018
Tel +1 847-813-6800
Fax +1 847-257-8888
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SOURCE Brennan Investment Group