Brennan and Arch Street acquire 2.5msf industrial portfolio
Brennan Investment Group and a client of Arch Street Capital Advisors have acquired an 11-building industrial portfolio located in eight states and totaling 2,497,982 square feet.
The portfolio is geographically dispersed throughout several top markets in the United States, including Chicago; Milwaukee; Pittsburgh; Birmingham, Ala.; Grand Rapids, Mich.; Jacksonville, Fla.; and Minneapolis. Since 2011, through multiple ventures, Brennan and Arch Street have acquired more than $1 billion of single-tenant, net-leased industrial assets.
The acquisition marks the joint venture’s sixth purchase.
The average annual total returns of the industrial sector have outpaced all other major property sectors in institutional portfolios during the past five years, according to the NCREIF Property Index. The sector has been fueled by expanding demand for storage an