Brennan Investment Group (“Brennan”), a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, acquired approximately 12 acres along Business Park Road in Summerville, South Carolina, within the Charleston MSA. The site is located along I-26, between Jedburg Road and Nexton Parkway.
“The demand for outside storage continues to grow due to the $2 billion expansion of the Port of Charleston. Brennan will start construction in the spring of 2023 and deliver the site in the summer of 2023,” said Rob Gage, Senior Vice President for the Carolinas.
The site is visible from Interstate I-26 with a traffic count of 77,000 cars per day. Brennan will develop an industrial outside storage (“IOS”) site to accommodate 248 trailer spaces or a combination of trailers and containers.
“The Greater Charleston industrial market has had record breaking recent years, with 7.9 million square feet of net absorption in 2021 and 5.5 million square feet in 2022, an increase of 31% over the 5-year average,” observed Scott McKibben, Chief Investment Officer and Managing Principal of Brennan. “The vacancy rate for all industrial space in the Charleston market was less than 1% as the end of the 2022 4th quarter.”
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $6 billion in industrial real estate. The company’s current portfolio spans 27 states and encompasses 52 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm’s management team is among the most accomplished in its industry, having invested in over 5,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.