Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, announced its acquisition of six surplus industrial buildings totaling 308,908 square feet in Plant City, Florida, in the Tampa MSA. The seller, Paradise Inc., is a producer and distributor of Candied Fruit brands throughout the country.
“The Plant City and Eastern Hillsborough market has seen unprecedented growth in the industrial sector over the last three years,” said Bob Krueger, Managing Principal at Brennan Investment Group. “The Paradise Commerce Center provides a unique opportunity to accommodate many uses including manufacturing, distribution and commercial. The location, which is just minutes off Interstate 4, fronts on Alexander and Martin Luther King Boulevards, two of the main highways through Plant City.”
The properties are a mile off the I-4 Corridor, running between Tampa and Orlando. The Tampa market has demonstrated strong fundamentals, with positive net absorption of over 1 million square feet year-to-date and a vacancy rate of 94.6%.
“This transaction is another example of our customized corporate real estate initiative,” said Scott McKibben, Chief Investment Officer and Managing Principal at Brennan Investment Group. “This multi-property site has a variety of building types and can be redeveloped into cost competitive, functional space, for a wide range of users.”
Brennan continues to grow its Southeast portfolio, with a total of 68 properties totaling 9 million square feet.
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 2010, Brennan Investment Group has acquired over $4 billion in industrial real estate. The company’s current portfolio spans 29 states and encompasses 444 million square feet.
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, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.