Brennan Acquires Austin Industrial Facility for Redevelopment
- Mar 01, 2016
By Anca Gagiuc, Associate Editor
Austin, Texas—Brennan Investment Group LLC of Illinois, specialized in the acquisition, development and operation of industrial properties, announced the purchase of a vacant industrial facility previously occupied by Sysco Foods in Austin. The financial details of the transaction were not disclosed.
The newly acquired building totals 200,411 square feet of space and is located in Round Rock, on the north side of Austin. The property currently operates as a Class B cold storage and distribution center and will ultimately be converted into a Class A food processing facility.
“The Austin market has demonstrated strong fundamentals, evidenced by nearly 1.2 million square feet of positive net absorption year-to-date. This acquisition increases Brennan’s Texas region portfolio to 28 buildings, with an overall occupancy of 94.5 percent,” Kyle Harris, acquisition and development analyst at Brennan Investment Group, said in a prepared statement.
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