Acquisition expands Texas region portfolio to 28 buildings
CHICAGO, February 29, 2016 -- Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops and operates industrial properties on a national basis, has purchased a 200,411 square foot vacant industrial facility previously occupied by Sysco Foods. The facility, located in Round Rock, Texas, on the north side of Austin, will be redeveloped into a food processing facility.
The redevelopment project involves converting the building into food preparation space as well as other upgrades. The property is currently a Class B cold storage and distribution center, but will be converted into a Class A food process facility upon completion.
Troy MacMane, Co-Founder and Managing Principal of Brennan Investment Group, stated, “We are pleased to complete the acquisition, and enthusiastic about its future conversion into a state-of-the-art food grade facility.”
“The Austin market has demonstrated strong fundamentals, evidenced by nearly 1.2 million square feet of positive net absorption year-to-date. This acquisition increases Brennan’s Texas region portfolio to 28 buildings, with an overall occupancy of 94.5%,” said Kyle Harris, Acquisition and Development Analyst at Brennan Investment Group.