Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops and operates industrial properties on a national basis, has acquired an industrial portfolio consisting of four multi-tenant, light-industrial properties (10 buildings) totaling approximately 544,810 SF located in three submarkets within the Indianapolis market. The properties are all located within close proximity to I-465, the 53-mile beltway surrounding Indianapolis.
“The Indianapolis market is a strong Midwest market and has demonstrated exceptional fundamentals, as evidenced by 19 consecutive quarters of positive net absorption,” said Scott McKibben, Co-Founder and Chief Investment Officer for Brennan Investment Group.
Kevin Brennan, Vice President of Acquisitions at Brennan Investment Group stated, “This acquisition was an excellent opportunity to acquire an institutional-quality business park consisting of bulk warehouse, light industrial and manufacturing properties. We also have the ability to increase cash flow through additional leasing of the currently vacant space.”
Based upon the fundamental strength and improving demographics of Indianapolis, Brennan has been an active investor in this market. Within the last 12 months, Brennan acquired an additional 706,292 square feet that included Hillsdale Business Park and Jackson Industrial Park.
HFF Managing Partner, Pat Sullivan, represented the seller in this transaction.