The 578,059 square foot industrial complex includes the company’s warehouse and call center, and serves as its corporate headquarters
CHICAGO, IL – May 11, 2015 – (RealEstateRama) — Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops, and operates industrial facilities, announced its acquisition of two buildings at 13700 Oakland Avenue and 350 Victor Avenue in Highland Park, Michigan. The properties are located in the Southeast Oakland submarket of Detroit and are 100% leased to DialogDirect, Inc. (“DialogDirect”). DialogDirect is a leading fulfillment and direct marketing company.
The Detroit market place has seen 16 consecutive quarters of positive net absorption, with an overall occupancy of 94.5%.
“The acquisition of the DialogDirect facility was funded through our recently launched $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 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 its formation in 2010, the company has amassed a portfolio of over 21 million square feet of industrial property in 22 states.
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.