{"id":1004419372,"date":"2020-04-16T02:19:16","date_gmt":"2020-04-16T10:19:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004419372"},"modified":"2020-04-16T02:19:16","modified_gmt":"2020-04-16T10:19:16","slug":"brennan-investment-group-expands-chicago-footprint","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/brennan-investment-group-expands-chicago-footprint\/","title":{"rendered":"Brennan Investment Group Expands Chicago Footprint"},"content":{"rendered":"
\"\"<\/a>

Image via Pixabay.com<\/em><\/p><\/div>\n

Brennan Investment Group has acquired another Chicago industrial property<\/a> through a sale-leaseback deal with a U.S.-based middle-market manufacturer and distributor. The off-market transaction allows the seller to continue occupying the property under a 10-year lease agreement.<\/p>\n

\n

READ ALSO<\/strong>: Big Lots Inks $725M Industrial Sale-Leaseback Deal<\/a><\/p>\n

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The 265,000-square-foot property was built with approximately 20-foot clear ceiling heights, roughly 15 dock doors, 280 parking stalls and the ability for trailer storage. The property is currently being used by the seller, and now tenant, as a space for manufacturing\/assembly, research and design, and distribution.<\/p>\n

Kevin Brennan, managing principal at Brennan, told Commercial Property Executive <\/em>that the seller sought an off-market transaction that would offer confidentiality and that would also allow the company to improve its balance sheet.<\/p>\n

\u201cWe acquired a functional, well-located industrial asset at an attractive purchase price,\u201d <\/em>Brennan told CPE. \u201cAt closing, we benefit from a long-term lease to a strong, global company and the transaction improved the company\u2019s balance sheet, which in turn, further enhanced the credit of our long-term tenant.\u201d<\/em><\/p>\n

Interest in Chicago industrial<\/h2>\n

In May 2019, Brennan also acquired a 1.3 million-square-foot industrial property<\/a> in Chicago with the help of a joint venture partner. Brennan partnered with a client of Arch Street Capital to purchase the distribution facility that has been occupied by hardware retailer True Value Co. since 1998.<\/p>\n

Chicago\u2019s industrial market has attracted many other investors recently, as Taurus Investment Holdings purchased a 28-property industrial portfolio for $154 million<\/a> in May last year. In February, Black Creek Group, who has been growing its portfolio of Chicago industrial properties, acquired a 110,355-square-foot industrial property in the western Chicago suburbs for $8.2 million.<\/p>\n

Besides acquisitions, Brennan has also been working on a nearly 1 million-square-foot speculative logistics center<\/a> in Colorado that includes five industrial buildings. The logistics park will be built in two phases and Brennan broke ground on the first phase in August 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company has purchased a 265,000-square-foot industrial property through an off-market leaseback deal.<\/p>\n","protected":false},"author":883,"featured_media":1004400215,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1491,21743,21748,13,21742],"tags":[37542,38162,33335,34180,36141,43925],"class_list":["post-1004419372","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-chicago","category-deals","category-industrial","category-midwest","category-latest","tag-arch-street-capital-advisors","tag-black-creek-group","tag-brennan-investment-group","tag-kevin-brennan","tag-taurus-investment-holdings","tag-true-value"],"acf":[],"yoast_head":"\nBrennan Investment Group Expands Chicago Footprint - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/brennan-investment-group-expands-chicago-footprint\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brennan Investment Group Expands Chicago Footprint\" \/>\n<meta property=\"og:description\" content=\"The company has purchased a 265,000-square-foot industrial property through an off-market leaseback deal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/brennan-investment-group-expands-chicago-footprint\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-16T10:19:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/03\/industrial-news-07.-Image-via-Pixabay.com_.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jackson Chen\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/brennan-investment-group-expands-chicago-footprint\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/brennan-investment-group-expands-chicago-footprint\/\",\"name\":\"Brennan Investment Group Expands Chicago Footprint - 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