Brennan Recapitalizes One Million SF Portfolio In Southern New Jersey
Date
1/21/2025 10:31:35 AM
(MENAFN- PR Newswire)
The portfolio is comprised of 20 shallow-bay industrial buildings constructed between 1984 and 2000 and is currently 96% occupied. The portfolio's multiple buildings and varying suite sizes provide tremendous growth flexibility for tenants. Brennan will continue to invest in and operate the portfolio, as it has done since its original Acquisition in September 2017, including continuing capital upgrades and the conversion of office to industrial space.
"Industrial activity in southern New Jersey continues to be strong, especially for high-quality product," said Chris Massey, Managing Principal at Brennan Investment Group. "Persistent tenant demand – especially in the shallow-bay segment - has driven outsized rent growth of 127% over the last five years. We remain committed to delivering high-quality industrial spaces which will allow us to continue to grow rent over time."
"The Philadelphia metro region is strategically located midway between Washington, DC and New York and is within a day's drive of 40% of the US population," said Kevin Brennan, Chief Investment Officer and Managing Principal at Brennan Investment Group. "Its recent success, due to its dense population, critical ports, concentration of businesses and transportation infrastructure make it a prime investment target. The Philadelphia metro will continue to be an area for increasing capital allocations by Brennan."
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired or developed $6.5 billion in industrial real estate in 30 states. The company's current portfolio spans 29 states and encompasses approximately 56 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The company has 18 regional offices throughout the United States, and the firm's management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada, and Europe.
For more information on Brennan Investment Group, go to brennanllc.
CONTACT: Ursula Walendzewicz, [email protected] , 8476308722
SOURCE Brennan Investment Group
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