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Brennan and Arch Complete Disposition of 2.3 Million Sq Ft Net Lease Portfolio

May 06, 2021

Brennan Investment Group, April 27, 2021 – Brennan Investment Group, a private real estate investment firm that acquires, develops and operates industrial facilities throughout the United States and Arch Street Capital Advisors, a full-service real estate investment and advisory firm, have announced the disposition of a four-building portfolio with a combined square footage of 2,307,835 square feet.  The assets are located in 4 states, Bellingham, MA; Lawrenceville, GA; Butner, NC and Frederick, MD.

The portfolio, a joint venture between Brennan and Arch Street, was originally acquired in January 2018 and recently sold to two private institutional real estate investment firms. The tenant, BlueLinx Corporation, is a leading distributor of building and industrial products in the United States and operates through a broad network of distribution centers.  BlueLinx is headquartered in Atlanta, GA and trades on the New York Stock Exchange under the symbol BXC.

“We are pleased with the outcome of this transaction,” said Bob Vanecko, Managing Principal and head of Brennan’s net lease industrial business.  “As the industrial market continues to strengthen, Brennan continues to look for additional net lease properties to add to its growing portfolio.”

“We remain active in the net lease business and will pursue opportunities across the United States, particularly for mission critical properties leased to middle market tenants,” said Gautam Mashettiwar, Senior Vice President of Arch Street.  “Brennan and Arch Street will continue to seek new acquisitions for our active net lease investment vehicle – USIPA III..”

USIPA III’s investment criteria are as follows:

  • Property Type:                           Single tenant, net lease industrial
  • Location:                                     Top 100 MSA’s in the United States
  • Deal Size:                                    $9 million or greater
  • Remaining Lease Term:          10 years or more
  • Tenant/Credit Profile:             Middle-market, non-investment grade companies
  • Preferred Lease Type:              Absolute NNN
  • Preferred Facility Type:           Mission critical (e.g., corporate HQ, manufacturing plant)

About Brennan Investment Group

Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $4 billion in industrial real estate. The company’s current portfolio spans 29 states and encompasses 44 million square feet.

Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm’s management team is among the most accomplished in its industry, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe.

For more information on Brennan Investment Group, go to www.brennanllc.com.

About Arch Street Capital Advisors

Arch Street Capital Advisors is a full service real estate investment advisory firm. Arch Street specializes in assisting institutional investors with their real estate investment strategies including acquisition and joint venture advisory, financing advisory, and asset management and disposition services. Since 2003, Arch Street has advised its capital partners on more than $8.5 billion of acquisitions, dispositions and financings.  Arch Street manages a diverse portfolio of investments across multiple sectors, including: industrial, office, multi-family, single-family, hospitality, retail, health care, student housing and land.

For more information on Arch Street, go to www.archstreetcapital.com.