CHICAGO, Nov. 30, 2017 /PRNewswire/ -- Brennan Investment Group, LLC, a private real estate investment firm that acquires and operates industrial properties on a national basis, announced its acquisition of Fairway Park, a five building, 135,571 square foot light industrial park located at 10606 Hempstead Highway and 2517-2523 Fairway Park Drive in Houston, Texas. The portfolio consists of a mix of office and warehouse space, and is currently 84% occupied.
"We are pleased to complete the acquisition of this five-building portfolio in the Northwest submarket of Houston. The Houston market has demonstrated strong fundamentals, evidenced by over 2.5 million square feet of positive net absorption year-to-date, and a current vacancy rate of 5.4%," said Troy MacMane, Southwest Managing Principal at Brennan Investment Group.
Scott McKibben, Chief Investment Officer at Brennan Investment Group stated, "This acquisition is illustrative of our criteria to acquire industrial assets at a low basis in infill markets, with the ability to increase cash flow through leasing."
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 $3 billion in industrial real estate. The company's current portfolio spans 25 states and encompasses over 35 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 9,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.
CONTACT: Sarah Brennan, firstname.lastname@example.org
SOURCE Brennan Investment Group