Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, announced the acquisition of a 355,185 square foot distribution facility in New Hope, Minnesota, a submarket within the greater St. Paul/Minneapolis market, leased to Dedicated Logistics Warehousing, LLC, a warehousing, fleet management, and logistics company. The facility serves as the company’s warehouse and distribution center and facilitates Dedicated’s delivery of a full suite of transportation and logistics solutions to a wide variety of customers.
The greater Minneapolis market place has seen 17 consecutive quarters of positive net absorption, with an overall occupancy of 94.8%.
“The acquisition of the Dedicated Logistics facility was funded through our recently launched $300,000,000 net leased joint venture with one of Arch Street Capital Advisors’ institutional clients,” said Michael Brennan, Chairman and Co-Founder of Brennan Investment Group. “We are excited to add this property to our growing portfolio.”
“We continue to seek investments in mission critical facilities and expect our acquisition volumes will significantly exceed 2014 levels,” said Robert Vanecko, Brennan Investment Group’s Managing Principal and the head of the firm’s single-tenant, net lease division.
The key criteria of the net lease venture are: • Located in the top 100 U.S. markets • Remaining lease term of 13 years or more • Non-investment grade credit is permitted • Significant facility investment by tenant • All industrial facility types considered: manufacturing, assembly, R&D, distribution
