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Brennan and Arch Street Complete 1.3 Million Square Foot Acquisition of True Value Company Distribution Facility

Chicago, May 29, 2019

A joint venture of Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, and a client of Arch Street Capital Advisors, LLC, a full service real estate investment and advisory firm, announced its 10th and final acquisition in its current single-tenant, net lease industrial aggregation venture. The 1,331,727 square foot distribution facility, located at 308 South Division Street in Harvard, Illinois, is 100% leased to True Value Company, one of the world’s leading hardware wholesalers. True Value has occupied the property since 1998.

“The acquisition of the True Value facility was funded through our $300,000,000 net lease 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 complete our final acquisition in this portfolio, which totals over 3.4 million square feet, and look forward to launching a new aggregation venture with Arch Street.”

“We look forward to continuing our long and successful partnership with the Brennan Investment Group and the launch of our next aggregation venture. Our institutional client base is focused on investment opportunities in the single-tenant, net-leased, industrial sector due to the strong industrial real estate fundamentals and mission-critical nature of the individual assets.” said Gautam Mashettiwar, Vice President of Arch Street Capital Advisors, LLC.

Since 2010, Brennan Investment Group and Arch Street Capital Advisors, on behalf of an institutional client, have acquired 100 single-tenant properties totaling over 20 million square feet, in 7 separate joint ventures. Brennan and Arch Street’s activity in the single-tenant, net lease sector includes:

  • USIP – Brennan Ventures I – a 20-property portfolio, comprising 2.4 million square feet leased to 12 tenants across 13 states;
  • USIP – Brennan Ventures II – a 19-property portfolio, comprising 3.9 million square feet leased to 16 tenants across 13 states;
  • USIP – Brennan Ventures III – a 24-property portfolio, comprising 3.4 million square feet leased to 20 tenants across 13 states;
  • USIPA – Brennan Ventures I – an 11-property portfolio, comprising 2.7 million square feet leased to 9 tenants across 7 states.
  • USIPA – Brennan Ventures II – a 10-property portfolio, comprising 3.4 million square feet
  • SIP – Brennan Ventures – an 11-property portfolio, comprising 2.5 million square feet
  • BIP – Brennan Ventures – a 4-property portfolio, comprising 2.3 million square feet

Brennan and Arch Street are launching an 8th venture – USIPA – Brennan Ventures III – and will continue to seek single tenant, net leased industrial investments meeting the following criteria:

  • location in the top 100 U.S. markets,
  • remaining lease term of at least ten years,
  • non-investment grade credits,
  • “mission critical” properties with significant facility investment by the tenant, and
  • all industrial facility types, including manufacturing, assembly, R&D and distribution.