MILWAUKEE—Activity in the US manufacturing sector has expanded for seven months in a row, according to a survey by the Institute for Supply Management. And across the US, investors have taken notice and many manufacturers have decided this is the moment to monetize their properties.
For example, Brennan Investment Group, LLC, a private real estate investment firm that acquires and operates industrial properties throughout the US, has just completed a sale-leaseback transaction for a 138,870-square-foot building at 7044 North Teutonia Ave. in Milwaukee, WI, from the Spanish manufacturer SIC Lazaro.
SIC Lazaro produces counterweight products, including container ship ballasts, and crane and elevator weights and also has operations in Europe, Brazil and China.
"In 2013, we successfully closed 28 long-term net-lease investments and sale-leasebacks across the United States, demonstrating our ability to source transactions at attractive yields in established industrial markets," says Michael Brennan, chairman and co-founder of Brennan. "The resurgence in US manufacturing should lead to additional compelling investment opportunities for us in 2014."
"Finding solutions that allow companies to grow by concentrating on their core competencies is a top priority," adds Scott McKibben, Midwest managing principal and co-founder of Brennan.
Sam Dickman Jr., Sam Dickman Sr., and Anthony Heunerbein, of The Dickman Company, Inc. in Milwaukee, helped broker the transaction.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
