Brennan Acquires Three-Building Industrial Portfolio In Lehigh Valley

-Northeast portfolio now approaching five million square feet

News provided by

May 12, 2020, 07:00 ET

CHICAGO, May 12, 2020 /PRNewswire/ -- Brennan Investment Group, a private real estate investment firm that acquires, develops and operates industrial facilities throughout the United States, has announced the acquisition of a three-building industrial portfolio, totaling 380,274 SF located in the Lehigh Valley. The buildings are 100% leased to five tenants.

The portfolio is located in the I-78/I-81 Industrial Corridor, one of the most sought-after locations in the Northeast for logistics having direct access to New York and Philadelphia. The portfolio is in close proximity to the new $335 million FedEx Ground hub which will be the largest FedEx facility in the U.S. The buildings are also adjacent to Lehigh Valley International Airport, where Amazon will build a new hub for consumer goods. The portfolio's location provides access to all major thoroughfares, including Routes 22 and 23, as well as I-78 and I-476.

"The I-78/I-81 Industrial Corridor has strong fundamentals, with 1.6 million SF of positive net absorption year-to-date and an occupancy rate of 94%," said Chris Massey, Managing Principal at Brennan Investment Group. "We are excited to add this investment to our Northeast portfolio, which is now approaching five million square feet in 14 submarkets throughout this region."

"This acquisition demonstrates Brennan's capability to acquire assets below replacement cost in strong infill locations while supporting our objective of delivering strong risk adjusted returns to our investors," said Michael Brennan, Chairman and Managing Principal at Brennan Investment Group.

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 over $4 billion in industrial real estate. The company's current portfolio spans 29 states and encompasses 44 million square feet.

Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm's management team is among the most accomplished in its industry, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe.

For more information on Brennan Investment Group, go to brennanllc.com.

Contact:
Anna Mandarino
(847) 443-2716
[email protected]

SOURCE Brennan Investment Group