Brennan Investment Group (“Brennan”), a U.S. based real estate firm, and an institutional client of Arch Street Capital Advisors, LLC (“Arch Street”), a Greenwich, Connecticut based real estate investment advisory firm, have announced the formation of their 8th joint venture to acquire, own and manage a substantial portfolio of industrial properties throughout the United States. The venture will focus on acquiring individual industrial assets in major markets in the United States that are critical facilities to tenants and leased on a long-term basis.
The new venture acquired two critical regional distribution properties totaling 1,152,000 square feet in the Jacksonville and Chicago metros. The properties are 100% leased to subsidiaries of BlueLinx Holdings Inc. (NYSE: BXC), a leading distributor of building and industrial products in the United States, operating through a broad network of distribution centers.
“We are excited to launch our eighth venture to invest in mission critical facilities throughout the country,” said Michael Brennan, Chairman and Managing Principal of Brennan Investment Group. “The United States industrial market is very strong and will likely exhibit healthy fundamentals for a long time.”
Over the past six years, Brennan and Arch Street have collectively acquired 102 properties comprising nearly 22 million square feet in the single-tenant, net lease sector. The venture seeks to build on the partners’ prior success in the sector.
Anup Patel, President and Chief Investment Officer of Arch Street Capital Advisors, commented, “We look forward to continuing our long-standing partnership with Brennan Investment Group and establishing our eighth platform that will strategically acquire net-leased mission critical industrial assets.”
Brennan and Arch Street continue to seek net leased industrial investments meeting the following criteria: