Former First Industrial Realty CEO Launches Industrial Real Estate Investment Firm

Michael W. Brennan, former President and CEO of First Industrial Realty Trust (NYSE: FR), recently announced the launch of Brennan Investment Group LLC, a privately held industrial real estate investment firm based in Chicago.

Brennan Investment Group will opportunistically acquire, develop and operate industrial properties in select major metropolitan markets throughout the United States. The firm’s managing principals will co-invest with private and institutional capital and pursue single asset and portfolio acquisitions as well as debt acquisitions.

“We established Brennan Investment Group at one of the most opportune periods the industrial real estate market has ever seen,” said Brennan, chairman and managing principal of Brennan Investment Group, in a statement.

“The industrial real estate sector is a large, stable and diversified investment class offering a compelling opportunity for both current income and appreciation,” Brennan continued. “Our firm will use a disciplined investment approach to strategically exploit investment opportunities.”

Investments will include bulk and regional warehouses as well as light industrial. Target U.S. markets will include Central Florida, Chicago, Northern New Jersey, Southern California, Texas and Washington, D.C.

Additionally, the firm will invest on an opportunistic basis in markets it classifies as secondary, including Atlanta, Cincinnati, Columbus, Harrisburg, Indianapolis, Louisville, Memphis, Miami, Milwaukee, Minneapolis, Nashville, Philadelphia, Phoenix, Salt Lake City, San Diego, San Francisco Bay and St. Louis.

Prior to forming Brennan Investment Group, Brennan co-founded First Industrial Realty Trust and served as the president, CEO and a member of the board of directors.

Under Brennan's direction, First Industrial assisted many of the nation’s largest industrial users in completing complex supply chain reconfigurations and attracted investment partners including The Carlyle Group, the Kuwait Finance House, Union Bank of Switzerland, ING and the California State Teachers’ Retirement System (CalPERS).

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