Michael Brennan Of Brennan Investment Group Acquires Industrial Portfolio For $77 Million In Chicago And Milwaukee

Brennan Investment Group acquired an industrial portfolio consisting of 13 properties located in Batavia, Downers Grove, Woodridge, Bolingbrook, Romeoville, Waukegan, Gurnee, Mundelein, and Milwaukee. The total sale price for this transaction was $77,000,000, which corresponds to a price per square foot of $96. The cumulative square footage of the portfolio amounts to 802,000 square feet.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $77,000,000
• Buyer: Michael Brennan - Brennan Investment Group
• Seller: Herbert Myers - Investcorp; Farallon Capital Management
• Lender: Bank of America
• Loan Amount: $59,000,000

Michael Brennan, representing Brennan Investment Group, has significantly expanded his firm’s footprint in the Midwest industrial market, which now encompasses over 28 million square feet of existing space. The acquisition reflects a strong position in a region experiencing stabilizing construction and strong net absorption rates.