Brennan Investment Group has successfully completed the recapitalization of an industrial portfolio situated in Moorestown, New Jersey. The prime location of this portfolio, just 12 miles east of Philadelphia, provides convenient access to both the New Jersey Turnpike and downtown Philadelphia.
The portfolio consists of 20 shallow-bay industrial buildings that were built between 1984 and 2000. Currently, it boasts a high occupancy rate of 96%. Brennan Investment Group acquired this property in 2017 and will continue to manage and invest in it by implementing capital upgrades and converting office spaces into industrial units.
According to Kevin Brennan, Chief Investment Officer and Managing Principal at Brennan Investment Group: “The strategic location of the Philadelphia metro region – midway between Washington DC and New York – makes it easily accessible for nearly half the US population within a day’s drive.” He also highlighted its recent success as a result of its dense population, critical ports, concentration of businesses,and transportation infrastructure which make it an attractive investment opportunity. As such,Brennan plans on increasing their capital allocations towards properties within the Philadelphia metro area.
In summary,Brennan has successfully recapitalized their one million square foot industrial portfolio outsidePhiladelphia.This move further solidifies their commitment towards investingin prime locations with potential for growthand development.
