Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, announced its purchase, and simultaneous leaseback to Arbor Metals, LLC (“Arbor”) located at 811 Regal Row in Dallas, Texas. Arbor is an international trader, processor and stocking metal service center for stainless steel and aluminum strip and coil. The building serves as the company’s headquarters and sole manufacturing facility.
Troy MacMane, Co-Founder and Managing Principal of Brennan Investment Group stated, “The Dallas/ Fort Worth market has demonstrated strong fundamentals, evidenced by 18 consecutive quarters of positive net absorption year-to-date, and an overall occupancy of 92.7%. This quarter saw 6 million square feet in absorption compared to 2.3 million square feet in Q4 2014.”
This acquisition increases Brennan’s Southwest region portfolio to 21 buildings.
“The acquisition of the Arbor Metals facility was funded through our $300,000,000 net leased joint venture with one of Arch Street Capital Advisors’ institutional clients,” said Robert Vanecko, Brennan Investment Group’s Managing Principal and the head of the firm’s single-tenant, net lease division. “We are excited to add this property to our growing portfolio.”
The key criteria of Brennan’s net lease joint venture are (i) location in the top 100 U.S. markets, (ii) remaining lease term of at least 13 years, (iii) non-investment grade credits will be considered, (iv) significant facility investment by the tenant, and (v) all industrial facility types, including manufacturing, assembly, R&D and distribution.