Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops and operates industrial properties on a national basis, has purchased approximately 11 acres of land at 14101 East Otero Avenue in Arapahoe County for a speculative development project. The site is well located in the Southeast industrial submarket of Denver and in close proximity to Interstate 25 and E-470.
Brennan will construct a Class A industrial building totaling approximately 150,000 square feet. The facility will feature first class amenities that exceed market standards including 28’ clear height, abundant automobile parking and loading positions, and ample yard area for outside storage. The property is designed to serve the significant demand for warehousing, assembly, and distribution uses. Completion is targeted for third quarter 2018.
Scott McKibben, Chief Investment Officer at Brennan Investment Group, stated, “We want to increase our investments in demographically strong markets, and the Denver economy is poised to outperform many other regions of the United States, due in part to population growth and job creation. The Denver metro area recently surpassed 3 million and is projected to surpass 4 million by 2035. These factors should drive Denver industrial fundamentals in a positive direction.”
“We are pleased to complete this acquisition in the Southeast submarket,” said Brian Roach, Senior Vice President at Brennan Investment Group. “Located just 12 miles from downtown Denver, it is a highly desirable location for warehouse and distribution space. The Denver market has demonstrated strong fundamentals, evidenced by 1.9 million square feet of positive net absorption, and an occupancy rate of 94.6%. This was the highest quarterly net absorption ever recorded for industrial space in the Denver MSA.”
Brennan Investment Group is actively seeking development opportunities in many demographically strong markets such as Denver, Phoenix, Seattle, Salt Lake City, Charlotte, Orlando, Dallas, Chicago, Kansas City and Tampa.