Chicago & Midwest + Illinois + Industrial | May 6, 2016

Brennan Brings $1B Portfolios to Market

Chicago-area Brennan Investment has brought two separate industrial portfolios to market with a combined value of approximately $1 billion. Both portfolios contain relatively old light-industrial buildings in a mix of primary, secondary and tertiary markets.

Eastdil Secured is marketing an 11.7-million-square-foot package valued at $500 million, with an anticipated initial annual yield of 7%. Portfolio occupancy is 92%. Brennan owns the assets with several institutional partners. The package encompasses 73 properties, with 44% of the space in the Chicago area.

Meanwhile, HFF is marketing a 6.3-million-square-foot portfolio anticipated to attract bids of approximately $425 million, meaning an initial yield of 7.5%. Brennan’s partner is NorthStar Realty Finance. The fully-leased package has 39 properties, the largest concentration of which are in the Chicago area.

Inside The Story

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

Order Reprints