Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, announced its purchase, and simultaneous leaseback of three industrial buildings to Rohrer Corporation (“Rohrer”) one of which is their corporate headquarters near Cleveland, OH. The other two buildings are located in submarkets within the Chicago and Atlanta area. Rohrer is a leading producer of skin and blister packaging and the largest supplier of visual carded packaging.
“The acquisition of the Rohrer facilities was funded through our $300,000,000 net leased joint venture with one of Arch Street Capital Advisors’ institutional clients,” said Robert Vanecko, Brennan Investment Group’s Managing Principal and the head of the firm’s single-tenant, net lease division. “We are excited to add this property to our growing portfolio. We have a strong appetite for additional properties that meet our criteria.”
The key criteria of Brennan’s net lease joint venture are (i) location in the top 100 U.S. markets, (ii) remaining lease term of at least 13 years, (iii) non-investment grade credits will be considered, (iv) significant facility investment by the tenant, and (v) all industrial facility types, including manufacturing, assembly, R&D and distribution.