Brennan Investment Group has acquired a 10-building shallow-bay industrial portfolio, including properties in Tampa, according to a Jan. 8 announcement.
The Class B portfolio totals 482,312 square feet across six submarkets in four states. Brennan is a Chicago-based private real estate investment firm focused on industrial properties.
Properties
The portfolio includes five properties in the Mid-Atlantic region, located in Farmingdale, New York, Whippany, New Jersey and King of Prussia, Pennsylvania.
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The other five properties are in Florida, including assets in Tampa, Miami and Boca Raton.
Locations
Brennan said the buildings are positioned in supply-constrained, infill submarkets with access to transportation infrastructure, including airports and marine port terminals.
“These assets strengthen our presence in key coastal markets and represent the type of well-located, highly functional industrial properties Brennan seeks to acquire,” Kevin Brennan, chief investment officer, said in a statement.
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Chris Massey, managing principal for Brennan’s Mid-Atlantic region, said the acquisition aligns with the firm’s strategy of targeting functional industrial buildings in infill areas.
Bob Krueger, managing principal for the Florida region, said the portfolio’s proximity to transportation corridors and high-density population centers makes it well-suited for last-mile logistics and light industrial users.
Signals for Tampa Bay commercial real estate
The deal adds to a pattern of national investors targeting Florida industrial real estate, especially infill space that can serve distribution and light industrial tenants without new ground-up development.
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For Tampa, the inclusion of local properties in a multi-state acquisition highlights how the region continues to show up in broader capital allocation decisions tied to logistics, population growth and transportation access.
About Brennan Investment Group
Brennan Investment Group said it has acquired or developed more than $6.5 billion in industrial real estate since 2010.
The firm’s portfolio spans 29 states and totals about 57 million square feet.