Brennan Expands Land Holdings in Denver with Third Acquisition
Brennan Investment Group, a value add industrial property owner, has purchased its second land site in the Dove Valley Business Park, a 12.07 acre site at 14103 East Otero Avenue in Arapahoe County. This purchase follows the successful development of an 11-acre site bought by Brennan in 2018, located adjacent to this project.
This acquisition marks Brennan’s third development in the Denver region, executing the company’s strategy to seek infill parcels in the top 15 MSA’s in the country.
Designed as a modern Class-A industrial facility, the building will feature amenities that exceed market standards including 28′ clear height, ESFR sprinkler system, abundant automobile parking and loading positions, and a truck court to facilitate outside storage and trailer parking. Completion is targeted for fourth quarter 2020.
“We are pleased to add this development to our growing portfolio,” said Brian Roach, managing principal at Brennan Investment Group. “The Denver market has demonstrated strong fundamentals, evidenced by 2.0 million square feet of net absorption year to date, with a total vacancy rate of 7 percent. Demographically, Denver remains among the strongest markets in the United States.”
Brennan’s development activities have increased significantly over the last several years with active build-to-suit and speculative projects in Chicago’s O’Hare market, Atlanta, Austin, Houston, Salt Lake City, Denver, Florida and New Hampshire. Active in major in-fill markets across the United States, Brennan sees long-term, stable demand from technology-enabled uses including e-commerce, robotics, automation, and data centers. Since 2010, Brennan Investment Group has acquired more than $4 billion in industrial real estate. The company’s current portfolio spans 30 states and encompasses more than 43 million square feet.