Brennan Investment Group Sells Two Assets In Harvey, Illinois

News provided by

Jul 10, 2014, 07:00 ET

CHICAGO, July 10, 2014 /PRNewswire/ -- Brennan Investment Group, LLC, a private real estate investment firm that acquires and operates primarily industrial properties on a national basis, announced the sale of the facility at 16745 South Lathrop Avenue, Harvey, Illinois, to a company involved in the metal recycling business. The transaction closed on June 30, 2014.

The Harvey facility was part of a vacant, seven building, industrial package acquired from a subsidiary of Oshkosh Defense Corporation in May, 2012. Brennan pre-leased a portion of the portfolio prior to closing, however the Harvey assets were planned to be sold after certain post-acquisition improvements were completed by Brennan. The sale of the Harvey assets marks an important step in the company's active asset management plan for this portfolio.

"Acquiring vacant, surplus real assets from corporations has always been a component of our value-add strategy," said Scott McKibben, Co-founder and Managing Principal for Brennan's Midwest operations. "Given the improvement in overall leasing velocity, we are actively seeking more of these opportunities."

Walter Murphy, of Lee and Associates, represented Brennan on the Harvey property disposition, and represented Oshkosh in the initial portfolio sale to Brennan.

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 $750 million in industrial real estate. The company's current portfolio spans 21 states and encompasses over 14 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 www.brennanllc.com.

Brennan Investment Group, LLC

9450 W. Bryn Mawr, Suite 750
Rosemont, Illinois 60018

Tel +1 847-813-6800
Fax +1 847-257-8888
www.brennanllc.com

SOURCE Brennan Investment Group