PHILADELPHIA, PA—Chicago-based Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities, arranged a sale-leaseback with Markel Corporation of Markel's 168,000 square foot facility located at 435 School Lane in Plymouth Township, PA. Markel is a provider of high performance chemicals to automotive, communications, environmental, and industrial markets. The building serves as the company's headquarters and sole manufacturing facility.
"The overall Philadelphia industrial market contains nearly 445 million square feet of inventory and continues to recover, as evidenced by strong absorption numbers and a declining vacancy rate of 7.2%, which is down 30 basis points from the first quarter of 2015," says Kevin Brennan, vice president of acquisitions at Brennan Investment Group.
"The acquisition of the Markel facility was funded through our $300 million net leased joint venture with one of Arch Street Capital Advisors' institutional clients," says Robert Vanecko, Brennan Investment Group's managing principal and the head of the firm's single-tenant, net lease division.
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
