Brennan Investment Buys 23 Industrials

CHICAGO—Brennan Investment Group, LLC, a private real estate investment firm in suburban Rosemont, has just acquired a 23-building, 4.68-million-square-foot industrial portfolio spread out across the Chicago metro area. Brennan acquires and operates industrial properties on a national basis, and completed this purchase in a joint venture with Goldman Sachs. The properties were purchased from Mirvac Industrial Trust, an Australian public REIT. The prices or other details were not disclosed.

“The Chicago industrial market continues to demonstrate exceptional fundamental strength, with overall occupancy at 92.6% along with 17 consecutive quarters of positive absorption,” according to Scott McKibben, managing principal of Brennan. “That, in turn, should provide a strong catalyst for upward pressure on rental rates.”