Brennan Investment Group, LLC, a private real estate investment firm that acquires and operates industrial properties on a national basis, announced its acquisition of a 23 building, 4.68 million square foot industrial portfolio in a joint venture with Goldman Sachs. The properties are located throughout the greater Chicago Metropolitan area and were purchased from Mirvac Industrial Trust (ASX: MIX), an Australian public REIT.
“The Chicago industrial market continues to demonstrate exceptional fundamental strength, with overall occupancy at 92.6% along with 17 consecutive quarters of positive absorption. That, in turn, should provide a strong catalyst for upward pressure on rental rates,” said Scott McKibben, Managing Principal of Brennan Investment Group.
Michael Brennan, Chairman and Managing Principal of Brennan Investment Group stated, “The industrial real estate markets are beneficiaries of the robust U.S. economy. We are particularly encouraged by the broad based vitality of the economy, including elevated levels of business investment spending.”
CBRE and the Macquarie Group represented the seller in the transaction.
