Brennan Investment Group, LLC, a private real estate investment firm that acquires and operates industrial properties on a national basis, announced today its acquisition of Dayco Products’ Detroit production and distribution facility located at 16000 Common Road in Roseville, Michigan. Dayco Products, a national leader in automotive belts, hoses, tensioners, and pulleys, has operated from the property since 2009.
“The recovery in the U.S. auto manufacturing industry has driven up demand for industrial manufacturing space throughout many of Detroit’s industrial submarkets,” said Scott McKibben, Managing Principal and Co-Founder of Brennan Investment Group. “The Macomb County submarket, which encompasses Roseville, is no exception and has seen rapidly declining vacancy rates post-recession. This acquisition reaffirms our commitment to acquire stabilized, mission-critical industrial assets throughout the country, including the Midwest.”
“We acquired a mission critical facility of Dayco Products, a strong tenant with a long-term commitment to the Detroit area,” said Ryan O’Halloran, Vice President of Acquisitions for Brennan Investment Group. “We appreciate the opportunity to work with Dayco Products and look forward to satisfying their future space needs.”
Patrick Shannon and Mike Davidson, of Newmark Grubb Knight Frank, were the brokers involved in the transaction.