CHICAGO AND NEW YORK CITY — Brennan Investment Group and Arch Street Capital Advisors have sold a four-building industrial portfolio with a combined square footage of 2.3 million square feet. The properties in the portfolio are located in Bellingham, Mass.; Lawrenceville, Ga.; Butner, N.C.; and Frederick, Md. The buyers, two unnamed, privately held institutional real estate investment firms, purchased the properties for an undisclosed price.
BlueLinx Corp., a distributor of building and industrial products in the United States, is the sole occupant of all four facilities. The company operates through a broad network of distribution centers and is based in Atlanta.
Brennan Investment and Arch Street originally acquired the portfolio in a joint venture in 2018. The firms stated they are seeking net-leased properties in their joint investment vehicle USIPA III.
Brennan Investment is a Chicago-based, private real estate investment firm that acquires, develops and operates industrial properties. Arch Street Capital Advisors is a full-service real estate investment and advisory firm based in New York City.