Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops and operates industrial properties on a national basis, acquired Kemper Woods Business Center and Fairfield Business Center, two institutional owned business centers located in the greater Cincinnati market. Kemper Woods Business Center is a three-building, industrial, multi-tenant portfolio located in the Northwest submarket in Forest Park, Ohio. Fairfield Business Center is an industrial, multi-tenant building located in the Northwest submarket in Fairfield, Ohio. The portfolio’s combined occupancy is 51%.
Scott McKibben, Chief Investment Officer at Brennan Investment Group stated, “This acquisition is illustrative of our criteria to acquire industrial assets at a low basis in infill markets, with the ability to increase cash flow through leasing. Industrial vacancy in Cincinnati reached a historic low of 4.2% in the second quarter of 2016, making it an ideal time to execute a value-add strategy.”