May 31, 2019
A joint venture of Chicago-based Brennan Investment Group, LLC and a client of Arch Street Capital Advisors, LLC acquired a 1.3-million-square-foot distribution facility in Harvard, IL. The property at 308 South Division St. is 100% leased to True Value Company. The hardware wholesaler has occupied the property since 1998.
Brennan Investment Group’s Robert Vanecko says, “The acquisition of the True Value facility was funded through our $300,000,000 net lease joint venture with one of Arch Street Capital Advisors’ institutional clients. We are excited to complete our final acquisition in this portfolio, which totals over 3.4 million square feet, and look forward to launching a new aggregation venture with Arch Street.”
The deal is Brennan’s 10th and final acquisition in its current single-tenant, net lease industrial aggregation venture. Brennan and Arch Street plan to launch an 8th venture – USIPA – Brennan Ventures III – for single tenant, net leased industrial investments.
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