CHICAGO, April 22, 2014 /PRNewswire/ -- Brennan Investment Group, LLC, a private real estate investment firm that acquires and operates industrial properties on a national basis, announced today its acquisition of a $20 million, four-property industrial portfolio. The portfolio is leased to three tenants and is comprised of three properties in the Minneapolis/St. Paul metropolitan area and one property in Milwaukee. The portfolio has approximately eight years of weighted average remaining lease term.
Ryan O'Halloran, Vice President of Acquisitions for Brennan Investment Group stated, "We are pleased to complete the acquisition of a four-building portfolio in Minneapolis and Milwaukee, two Midwest markets with strong fundamentals. The Minneapolis/St. Paul industrial market has seen 14 consecutive quarters of positive net absorption and little speculative development. The Milwaukee industrial market continues to outpace the national industrial market with a vacancy rate of 5.8%."
"We acquired four mission-critical facilities located in major markets," said Scott McKibben, Co-Founder and Managing Principal of Brennan Investment Group. "Acquiring a variety of property types, in diverse industries and in strong markets, supports our investment objective of producing stable, long-term cash flow for investors."
Steve Lysen and Curt Smith, of CBRE, were the brokers involved in the transaction.
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.
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 further information, please visit www.brennanllc.com
Brennan Investment Group, LLC
9450 W. Bryn Mawr
Rosemont, Illinois 60018
Tel +1 847-813-6800
Fax +1 847-257-8888
SOURCE Brennan Investment Group