CHICAGO—Brennan Investment Group and Arch Street Capital Advisors have continued their joint venture partnership with the acquisition of an 11-building single-tenant industrial portfolio located in eight states. Seller and property addresses were not disclosed. The $100-million buy is the partnership's sixth in as many years; Brennan and Arch Street together have acquired more than $1 billion in net lease industrial properties since 2011.

Michael Brennan, chairman and managing principal of Brennan Investment Group, says the latest deal “demonstrates the breadth and depth of our net lease platform. We have the ability to both acquire large portfolios as well as aggregate individual long-term net lease assets. Utilizing our operational expertise and network of regional offices, we can invest across the US in both long- and short-duration net leased properties with an emphasis on mission critical assets.”

The portfolio totals 2,497,982 square feet. It's geographically dispersed across a number of leading industrial markets, including Chicago, Milwaukee, Pittsburgh, Birmingham, Grand Rapids, Jacksonville and Minneapolis.

Brennan and Arch Street will continue to seek single tenant, net leased industrial investments together. Their criteria include the following: location in the top 100 US markets, remaining lease term of at least 10 years, non-investment grade credits, “mission critical” properties with significant facility investment by the tenant and all industrial facility types, including manufacturing, assembly, R&D and distribution.