{"id":1004114180,"date":"2015-02-24T13:55:07","date_gmt":"2015-02-24T21:55:07","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=327602"},"modified":"2020-05-18T21:03:02","modified_gmt":"2020-05-19T05:03:02","slug":"brennan-pays-12m-for-new-hope-distribution-facility-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brennan-pays-12m-for-new-hope-distribution-facility-2\/","title":{"rendered":"Brennan Pays $12M for New Hope Distribution Facility"},"content":{"rendered":"<p><em>By Ioana Neamt, Associate Editor<\/em><\/p>\n<div id=\"attachment_327603\" class=\"wp-caption alignleft\" style=\"width: 160px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/new-hope6.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-327603\" title=\"new-hope6\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/new-hope6.jpg\" alt=\"\" width=\"150\" height=\"150\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">8201 54th Ave.<\/p>\n<\/div>\n<p>Rosemont, Ill.-based Brennan Investment Group recently announced the acquisition of a 355,185-square-foot distribution facility in New Hope, Minn. According to the <a href=\"https:\/\/www.bizjournals.com\/twincities\/blog\/real_estate\/2015\/02\/new-hope-distribution-center-sold-for-13-million.html\" rel=\"nofollow\">Minneapolis\/St. Paul Business Journal<\/a>, Brennan paid $12.9 million for the industrial asset.<\/p>\n<p>Located at 8201 54<sup>th<\/sup> Ave. in New Hope, a submarket within the greater Minneapolis\/St. Paul area, the facility is currently fully leased to Oakdale-based Dedicated Logistics Inc. The property features 35 heated loading docks, 18-foot ceiling clearance, and 24-hour ADT fire and security protection. It is FDA registered.<\/p>\n<p>\u201cThe acquisition of the Dedicated Logistics facility was funded through our recently launched $300 million net-lease joint venture with one of Arch Street Capital Advisors\u2019 institutional clients,\u201d said Michael Brennan, chairman &amp; co-founder of Brennan Investment Group.<\/p>\n<p>According to the <a href=\"https:\/\/www.bizjournals.com\/twincities\/blog\/real_estate\/2015\/02\/new-hope-distribution-center-sold-for-13-million.html\" rel=\"nofollow\">Minneapolis\/St. Paul Business Journal<\/a>, Brennan acquired the facility from seller New Hope Distribution Center LLC, a company related to Roseville-based Roseville Properties. Brennan reportedly made the purchase back in January, but did not disclose the transaction until now.<\/p>\n<p><em>Image courtesy of Dedicated Logistics Inc.<\/em><\/p>\n<p><strong><a href=\"https:\/\/www.multihousingnews.com\/market-data\/market-snapshot-twin-cities-economy-on-the-rise\/1004107869.html\" rel=\"nofollow\">Click here<\/a><\/strong> for further market data on <strong>Minneapolis\/St. Paul.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rosemont, Illinois-based Brennan Investment Group recently announced the acquisition of a 355,185-square-foot distribution facility in New Hope, Minnesota.<\/p>\n","protected":false},"author":192,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36076,21742],"tags":[],"class_list":["post-1004114180","post","type-post","status-publish","format-standard","hentry","category-minneapolis-st-paul","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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