Brennan Investment Group LLC recently acquired a portfolio totaling approximately 544,810 square feet of industrial properties within the Indianapolis market.
The properties are all close to Interstate 465, the 53-mile beltway surrounding Indianapolis.
"The Indianapolis market is a strong Midwest market and has demonstrated exceptional fundamentals, as evidenced by 19 consecutive quarters of positive net absorption," Scott McKibben, co-founder and chief investment officer for Brennan Investment Group, said.
Based upon the fundamental strength and improving demographics of Indianapolis, Brennan has been an active investor in this market. Within the last 12 months, Brennan has acquired an additional 706,292 square feet that includes Hillsdale Business Park and Jackson Industrial Park.
"This acquisition was an excellent opportunity to acquire an institutional-quality business park consisting of bulk warehouse, light industrial and manufacturing properties," Kevin Brennan, vice president of acquisitions at Brennan Investment Group, said. "We also have the ability to increase cash flow through additional leasing of the currently vacant space."
HFF Managing Partner Pat Sullivan represented the seller in this transaction.