Brennan Investment Group, LLC, a private real estate investment firm that acquires and operates industrial properties on a national basis, announced today its acquisition of a $20 million, four-property industrial portfolio. The portfolio is leased to three tenants and is comprised of three properties in the Minneapolis/St. Paul metropolitan area and one property in Milwaukee. The portfolio has approximately eight years of weighted average remaining lease term.
Ryan O’Halloran, Vice President of Acquisitions for Brennan Investment Group stated, “We are pleased to complete the acquisition of a four-building portfolio in Minneapolis and Milwaukee, two Midwest markets with strong fundamentals. The Minneapolis/St. Paul industrial market has seen 14 consecutive quarters of positive net absorption and little speculative development. The Milwaukee industrial market continues to outpace the national industrial market with a vacancy rate of 5.8%.”
“We acquired four mission-critical facilities located in major markets,” said Scott McKibben, Co-Founder and Managing Principal of Brennan Investment Group. “Acquiring a variety of property types, in diverse industries and in strong markets, supports our investment objective of producing stable, long-term cash flow for investors.”
Steve Lysen and Curt Smith, of CBRE, were the brokers involved in the transaction.