CRE Midwest

Brennan closes acquisition, leaseback of four-building industrial portfolio

Brennan Investment Group closed the acquisition and simultaneous leaseback of a four-building industrial portfolio to BlueLinx, a distributor of building and industrial products in the United States, operating through a broad network of distribution centers.

The four critical distribution facilities are located in four MSAs of Kansas City, Nashville, Richmond and St. Louis. The combined square footage of the portfolio was 783,889 square feet.

This marks Brennan’s third sale-leaseback transaction with BlueLinx within the last two years.

In 2019, Brennan acquired two distribution properties leased to BlueLinx in the Jacksonville and Chicago MSAs, totaling more than 1.13 million square feet. Brennan also purchased a 2.3-million-square-foot portfolio comprised of four buildings in 2018.