Brennan Investment Group, a private real estate investment firm that acquires, develops and operates industrial facilities throughout the United States, has announced its acquisition and simultaneous leaseback of a four-building portfolio to BlueLinx, a leading distributor of building and industrial products in the United States, operating through a broad network of distribution centers. The four critical distribution facilities are located in four MSAs of Kansas City, Nashville, Richmond and St. Louis. The combined square footage of the portfolio was 783,889 square feet.
This marks Brennan’s third sale-leaseback transaction with BlueLinx within the last two years.
In 2019, Brennan acquired two distribution properties leased to BlueLinx in the Jacksonville and Chicago MSAs, totaling 1,132,753 square feet. Brennan also purchased a 2.3 million square foot portfolio comprised of four buildings in 2018.
“This acquisition demonstrates our ability to structure real estate solutions for corporate tenants, as well as meet Brennan’s objective of producing stable cash flow and higher risk adjusted returns for our investors,” said Scott McKibben, Chief Investment Officer and Managing Principal at Brennan Investment Group.