Brennan Investment Group, a private real estate investment firm that acquires, develops, and operates industrial facilities throughout the United States, has acquired a 10-acre industrial outdoor storage property on Jernee Mill Road in Sayreville, New Jersey, in a joint venture with Global Gate Capital. The site includes a 28,600 square foot, cross-docked building with 24′ to 28′ clear heights and 16 drive-in bays, allowing for a wide variety of uses.
“This investment expands our presence into Central New Jersey with the addition of a Class A outdoor storage and cross-dock facility,” said Chris Massey, Brennan’s Mid-Atlantic and Northeast Managing Principal. “Industrial outdoor storage and industrial service facility space is increasingly scarce in North and Central New Jersey, as user demand far exceeds the supply of functional, zoned sites. We have a great site, with excellent connectivity to the New Jersey Turnpike, which is only minutes away.”
The property has interstate access via the Turnpike, with only a 25-mile drive to the Port of New York and New Jersey. This port is the most active of any on the East Coast and has the largest 250-mile radius population of any port in North America, with 61 million people, and one-third of the nation’s GDP.
“The New Jersey IOS/ISF market has seen unprecedented activity over the past few years. Strong tenant demand continues to increase port volumes as well as overall industrial demand,” observed Scott McKibben, Chief Investment Officer and Managing Principal of Brennan. This product and this market will continue to see high levels of tenant demand.”
Phil Tager, Head of US Real Estate at Global Gate Capital added, “It is a pleasure to close another project with Brennan Investment Group with whom we have a longstanding relationship. With 20 million people in the greater New York City MSA and 250 million consumers within a 24-hour drive, this location is ideally positioned to capture demand for outdoor storage generated by the industrial and logistics activity surrounding the Port of New York and New Jersey and Newark Liberty International Airport.”
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 $6.5 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 www.brennanllc.com
About Global Gate Capital
Global Gate Capital is an international investment firm that invests its own and its clients’ capital in a range of asset classes globally, including real estate, private equity, credit, and listed securities. The firm also provides corporate advisory services to its select client base. With offices in London, Geneva, New York, Dubai and Beirut, Global Gate has grown its assets under management to over $5 billion since its founding in 2013. www.globalgatecapital.com