DALLAS—Rosemont, IL-based Brennan Investment Group LLC has purchased and simultaneously leased back 811 Regal Row in Dallas to Arbor Metals LLC ("Arbor").
“Regal Row is part of our aggregation strategy of which we have a single-tenant strategy as well as a multitenant strategy,” Troy MacMane, co-founder and managing principal of Brennan Investment Group, told GlobeSt.com. “In both we have paired with institutional equity partners to acquire and actively manage in order to achieve above-industry standard returns.”
This acquisition increases Brennan's Southwest region portfolio to 21 buildings.
"The acquisition of the Arbor Metals facility was funded through our $300-million net leased joint venture with one of Arch Street Capital Advisors' institutional clients," Robert Vanecko, Brennan Investment Group's managing principal and the head of the firm's single-tenant, net lease division, said in a release.
Arbor, an international trader, processor and stocking metal service center for stainless steel and aluminum strip and coil, will use the building as its headquarters and sole manufacturing facility.
"The Dallas/ Fort Worth market has demonstrated strong fundamentals, evidenced by 18 consecutive quarters of positive net absorption year-to-date, and an overall occupancy of 92.7 percent,” says MacMane. “This quarter saw 6 million square feet in absorption compared to 2.3 million square feet in Q4 2014."
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