Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, acquired a three building industrial campus at 3000 South Austin Avenue in Georgetown, Texas. The Property is located in the greater Austin market and contains 192,060 square feet and is 100% leased to Manitex, Inc., a leading provider of engineered specialty lifting and loading products. The Property has easy access to I-35, a major north-south route, which serves as a primary corridor from San Antonio and into Mexico to the south and to the north through Dallas.
This marks Brennan’s second acquisition in the Austin area in 2016 and increases Brennan’s total Texas region portfolio to 32 buildings. In February, Brennan acquired a 200,411 square foot vacant industrial facility at 101 Chisholm Trail in Round Rock, Texas which is undergoing redevelopment into a food processing facility.
Kyle Harris, Acquisition and Development Analyst at Brennan Investment Group stated, “The overall Austin industrial market contains over 50 million square feet of inventory and continues to demonstrate strength, as evidenced by strong absorption numbers and a declining vacancy rate of 6.7%, which is driving a resurgence of development back to the market.”
“With nearly 600,000 square feet in Austin, we are pleased to complete the acquisition and grow our presence throughout Texas,” said Troy MacMane, Co-Founder and Managing Principal of Brennan Investment Group.