LAKELAND, FL—Structall Building Systems Inc. has engaged in a sale-leaseback of its 113,308-square-foot Lakeland Service Center building at 5120 Great Oak Drive here with Chicago-based real estate investment firm Brennan Investment Group.
Structall, headquartered in Oldsmar, FL, is a manufacturer of aluminum building supplies and laminated panels. No financial terms of the transactions were released.
"We acquired a mission critical facility of Structall Building Systems, an established tenant with a long-term commitment to the Lakeland area," says Bob Krueger, Southeast managing principal for Brennan Investment Group. "We appreciate the opportunity to accommodate Structall's growth through this sale-leaseback transaction."
The purchase now brings Brennan's Southeast region portfolio to 22 buildings totaling more than 3.3 million square feet. Brennan currently owns and manages 15 million square feet of industrial properties throughout the United States in 21 states.
"Lakeland, Florida is in the heart of the I-4 corridor, between Tampa and Orlando, and serves as one of Florida's key distribution hubs for both consumer goods as well as commercial and residential building supplies," said Kevin Brennan, vice president of acquisitions at Brennan Investment Group. "This acquisition reaffirms our commitment to acquire stabilized, mission-critical industrial assets throughout the United States."
Ed Miller and Dee Seymour with Colliers International were the brokers involved in the transaction, company officials say.
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