Brennan Investment Group and a client of Arch Street Capital Advisors LLC have acquired a 477,152 square foot single-tenant distribution facility in Canton, Georgia. Currently, the property is occupied by internet furniture retailer Belnick. No financial terms were disclosed.
CHICAGO, Jan. 16, 2018 /PRNewswire/ — Brennan Investment Group (“Brennan”), a U.S. based real estate firm, and a client of Arch Street Capital Advisors, LLC (“Arch Street”), a Greenwich, Connecticut based real estate investment advisory firm, acquire, own and manage a substantial portfolio of industrial properties throughout the United States through their joint venture. The venture focuses on acquiring individual industrial assets in major markets in the United States that are critical facilities to tenants and leased on a long-term basis. The most recent acquisition was a 477,152 square foot single-tenant distribution facility located at 4350-4360 Ball Ground Highway in Canton, Georgia, and is 100% occupied by Belnick, Inc., a large internet furniture retailer.
In the last half of 2017, Brennan and Arch Street have already purchased 16 properties and 3,929,951 square feet of industrial real estate throughout the United States.
Over the past five years, Brennan and Arch Street have collectively acquired 95 properties comprising nearly 16 million square feet in the single-tenant, net lease sector. The venture seeks to build on the partners’ prior success in the sector.
“The acquisition of the Belnick facility was funded through our $300,000,000 net lease joint venture with one of Arch Street Capital Advisors’ institutional clients,” said Robert Vanecko, Brennan Investment Group’s Managing Principal and the head of the firm’s single-tenant, net lease division.
“We continue to see strong client demand and interest for industrial single-tenant, net-lease assets. In 2018, we plan to pursue additional acquisition opportunities for our single-tenant, net-lease platform,” said Gautam Mashettiwar, Vice President of Arch Street Capital Advisors, LLC.
Brennan and Arch Street continue to seek net leased industrial investments meeting the following criteria:
(i) location in the top 100 U.S. markets,
(ii) remaining lease term of at least 10 years,
(iii) non-investment grade credits,
(iv) significant facility investment by the tenant, and
(v) all industrial facility types, including manufacturing, assembly, R&D and distribution.
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 $3 billion in industrial real estate. The company’s current portfolio spans 23 states and encompasses over 35 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.
About Arch Street Capital Advisors
Arch Street Capital Advisors, L.L.C. is a full service real estate investment and advisory firm formed in 2003. The firm specializes in advising international investors on their U.S. real estate strategies and has advised clients on more than $6.5 billion of transactions. Arch Street actively manages a diverse portfolio of investments on behalf of our clients spanning multiple real estate sectors and risk-return profiles. Arch Street has significant experience in the office, multi-family, industrial, retail, hospitality, student housing, healthcare, single-family residential, land entitlement, and development sectors.
For more information please visit www.archstreetcapital.com.