Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops and operates industrial properties on a national basis, has acquired an eight-building industrial portfolio totaling 254,915 square feet. This portfolio consists of light-industrial buildings located in the Northwest Orange County submarket of Orlando, Florida.
“We are pleased to complete the acquisition of this eight building portfolio in the Northwest Orange County submarket, one of the largest industrial submarkets in Orlando, totaling over 21 million square feet. The Orlando market has demonstrated strong fundamentals, evidenced by 2.5 million square feet of positive net absorption year-to-date, and a vacancy rate of 9.2%, down 60 basis points from this time last year,” said Scott McKibben, Chief Investment Officer at Brennan Investment Group.
Bob Krueger, Southeast Managing Principal for Brennan Investment Group, stated, “This acquisition is illustrative of our strategy to acquire functional, well-located assets, in a rebounding market with the ability to add value through repositioning and hands-on leasing.”
This acquisition increases Brennan’s Florida and Southeast region portfolio to 35 buildings.