Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial real estate facilities throughout the United States has announced its acquisition and simultaneous leaseback of an industrial facility to Bennett Tool & Die, a leading contract tooling and metal stamping supplier. The 90,250 SF building, located in Gallatin, TN, serves as the company’s corporate headquarters and primary manufacturing facility.
The facility is located in the Nashville industrial market, 30 miles from downtown with convenient expressway access to I-65, 30 miles outside of downtown. Despite current conditions, the Nashville industrial market continues to demonstrate strong fundamentals with 1.5 million square feet of positive net absorption year-to-date and a vacancy rate of 7.4%.
“This transaction demonstrates our Corporate Real Estate Solutions initiative in action,” said Robert Vanecko, Managing Principal and the head of the single-tenant net lease division at Brennan Investment Group. “Part of our strategy is to buy mission-critical industrial properties that are capitalizing on the re-shoring of U.S. manufacturing and the shortening of global supply chains.”
Brennan continues to expand its presence in the Tennessee and Kentucky markets with a total of 1 million square feet of holdings.