Brennan Investment Group, a private real estate investment firm, has acquired a three-building industrial portfolio located in Wisconsin and Pennsylvania. No financial terms were disclosed. The properties are leased to Progressive Converting Inc, a paper converting company.
CHICAGO, Aug. 27, 2018 /PRNewswire/ — Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, has acquired a three-building industrial portfolio totaling 500,081 square feet located in the Green Bay and Northeastern Pennsylvania MSAs. The properties are 100% leased to Progressive Converting, Inc (Pro-Con), the largest independent paper converting company in the nation. The properties include the company’s corporate headquarters and primary manufacturing facilities.
“The acquisition of the Pro-Con facility was funded through our $300,000,000 net leased 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 are excited to add this property to our growing portfolio.”
“The properties are located in strong manufacturing areas in top 100 U.S. markets and are mission critical facilities for the tenant,” said Scott McKibben, Chief Investment Officer at Brennan Investment Group.
The key criteria of Brennan’s net lease joint venture are (i) location in the top 100 U.S. markets, (ii) remaining lease term of at least 13 years, (iii) non-investment grade credits will be considered, (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 29 states and encompasses nearly 40 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.