CHICAGO, Aug. 23, 2019 /PRNewswire/ -- Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, broke ground on approximately 61 acres last week at the intersection of East 112th Avenue & Havana Street in Commerce City, Colorado for a phased speculative development project. Fully complete, the new development, Colorado Logistics Park, will consist of 5 buildings, totaling 954,311 square feet. Brennan and New York Life Real Estate Investors, on behalf of an institutional client, formed a joint venture to acquire, construct, and lease the project.
"Colorado Logistics Park will feature Class A distribution buildings for tenants in the Denver area that require close connectivity to their supply chain and access to workforce labor," said Brian Roach, Managing Principal at Brennan Investment Group. "The park's proximity to the Denver metro area will provide users with lower transportation costs and faster delivery times to customers."
Phase One consists of three Class A industrial buildings totaling approximately 558,000 square feet. The buildings' modern designs feature first class amenities that exceed market standards including up to 36' clear heights, abundant automobile parking and loading positions, and ample yard areas for outdoor storage. In the second phase of the project, Brennan will construct two additional buildings totaling 396,311 square feet.
Stream Realty Partners is the exclusive leasing agent for the project. Tyler Reed, Peter Beugg, Dominic DiOrio, and John Torp will lead the marketing for Stream.
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 30 states and encompasses over 40 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.
About New York Life Real Estate Investors
New York Life Real Estate Investors is a division of NYL Investors LLC, a wholly-owned subsidiary of New York Life Insurance Company. Please visit New York Life Real Estate Investors' website at http://www.newyorklife.com/realestateinvestors for more information.
New York Life Real Estate Investors is a full service, fully-integrated real estate enterprise with more than 100 professionals. The division has market-leading capabilities in origination, underwriting, and investment in real estate equity products and related debt, including real estate equity investments, commercial mortgage loans, commercial mortgage backed securities, and unsecured REIT bonds. With over $55.5 billion in assets under management as of March 31, 2019 (1), New York Life Real Estate Investors is actively seeking to acquire additional properties throughout the U.S.
(1) Real Estate Investors AUM of $55.5B is gross and includes AUA ($1.4B) as of 3/31/19. Net AUM for Real Estate Investors is $55.0B as of 3/31/19.
SOURCE Brennan Investment Group