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.”