Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops and operates industrial properties on a national basis, has acquired a Class-A, multi-tenant warehouse and distribution facility totaling approximately 160,035 SF located in the Trolley Industrial Park in Taylor, MI.
“We are pleased to complete the acquisition of 22701 Trolley Industrial Drive, located in the Detroit Metropolitan Airport submarket. This submarket is the largest in Detroit and, due to its proximity to the airport, has historically outperformed its surrounding submarkets. The Detroit market as a whole has experienced a remarkable recovery in the last two years as vacancy rates have dropped over 450 basis points to 5.5% as of Q1 2015,” said Ryan O’Halloran, Vice President of Acquisitions at Brennan Investment Group.
Scott McKibben, Co-Founder and Managing Principal for Brennan Investment Group stated, “This acquisition is illustrative of our strategy to acquire functional, well-located assets in a rebounding market. Demand has returned due to the resurgence of the automotive industry, with positive space absorption for the last 16 quarters.”