Brennan Investment Group, LLC, a private real estate investment firm that acquires and operates primarily industrial properties on a national basis, announced the sale of the facility at 16745 South Lathrop Avenue, Harvey, Illinois, to a company involved in the metal recycling business. The transaction closed on June 30, 2014.
The Harvey facility was part of a vacant, seven building, industrial package acquired from a subsidiary of Oshkosh Defense Corporation in May, 2012. Brennan pre-leased a portion of the portfolio prior to closing, however the Harvey assets were planned to be sold after certain post-acquisition improvements were completed by Brennan. The sale of the Harvey assets marks an important step in the company’s active asset management plan for this portfolio.
Walter Murphy, of Lee and Associates, represented Brennan on the Harvey property disposition, and represented Oshkosh in the initial portfolio sale to Brennan.
