Brennan Investment Group acquires major industrial property in Chicago

In Rosemont, Illinois, on December 2, 2024, Brennan Investment Group announced the acquisition of a single-tenant industrial property. The property, located at the intersection of Interstate 55 and Pulaski Road in Chicago, spans 225,000 square feet and sits on 7.16 acres of land. This acquisition significantly boosts the company's presence in the competitive Chicagoland industrial market. The property was purchased for a price below replacement cost, which is indicative of Brennan's strategy to find opportunities in surplus industrial real estate primarily owned by corporate entities. This acquisition marks the second addition to Brennan's Opportunity Fund, which focuses on corporate real estate investments. Brennan Investment Group's Vice President for the Chicago Region, Dan Smith, emphasized the importance of this acquisition as part of their growth strategy in the industrial market. Jack Brennan, the Managing Principal of the Midwest Region, noted that corporate America is the largest owner of industrial real estate in the United States, making the user-owned market a rich source of investment opportunities. The company has plans to reposition the newly acquired property by enhancing its functionality. Significant improvements are planned, including doubling the existing loading capacity, which is expected to make the building more appealing to potential tenants and increase rental rates. Since its founding in 2010, Brennan Investment Group has established a robust portfolio, acquiring or developing over $6.5 billion in industrial real estate across 30 states. Their current portfolio now spans approximately 56 million square feet across 29 states. This latest acquisition reflects the firm’s continued commitment to expanding its footprint in the industrial sector and exploiting undervalued properties in the market. The strategic acquisition in an infill location further exemplifies how Brennan Investment Group seeks out assets that promise strong returns. Amidst a highly competitive market positioned heavily toward industrial properties, this acquisition could yield significant financial benefits and enhance the functional capacity of the asset, ultimately contributing to the company's long-term growth and operational success.