Chicago & Midwest + Midwest + Office | August 28, 2018

Brennan Acquires Pro-Con HQ, Plants in WI and Northeastern PA

Brennan Investment Group has acquired a three-building office and industrial portfolio totaling 500,081 square feet, and located in Appleton, WI and northeastern Pennsylvania. Financial terms were not disclosed. The seller was an affiliate of Paul Ash Management, which acquired the portfolio in 2015.

The properties are 100% leased to Progressive Converting Inc. (Pro-Con), reportedly the nation’s largest independent paper converting company. The properties include the company’s corporate headquarters in Appleton (pictured) and primary manufacturing facilities.

“The acquisition of the Pro-Con facility was funded through our $300-million net leased joint venture with one of Arch Street Capital Advisors’ institutional clients,” said Robert Vanecko, who heads Brennan’s single-tenant, net lease division. CIO Scott McKibben added that the facilities are mission critical for Pro-Con.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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