Brennan Investment Group

What Brennan Investment Group does

Brennan Investment Group is a privately held industrial real estate investment firm founded in 2010 by Michael W. Brennan, the former co-founder, CEO, and director of First Industrial Realty Trust (NYSE:FR). The firm acquires, develops, leases, and operates industrial properties across the United States, with a portfolio of approximately 604 industrial buildings totaling 57 million square feet across 29 states and a 96.4% portfolio-wide occupancy rate as of July 2025. Brennan is the nation's second-largest privately held industrial real estate owner, with over $6.5 billion in industrial real estate acquired or developed since inception, and maintains 21 regional offices to support local market sourcing and asset management. Its core capabilities include Build-to-Suit development, Single-Tenant Net Lease, sale-leaseback acquisitions through its Corporate Real Estate Solutions platform, shallow-bay industrial repositioning, and redevelopment.

The firm's business model is built on a co-investment structure with private and institutional capital partners, where Brennan both commits its own capital alongside partners and earns acquisition, asset management, and disposition-related fees. Revenue is generated through rental income from the owned portfolio, appreciation on industrial real estate assets, and profits on disposition of sold assets, with disclosed average returns of 39% IRR and 2.16x equity multiple across sold assets. The firm serves over 900 tenants ranging from small-to-mid bay industrial users to large national corporate occupiers, with named customers including Commercial Vehicle Group (20-year absolute net lease on mission-critical seating plant), Tovala (build-to-suit food processing facility), Kitchen Food Company (Kentucky build-to-suit), and Impact Networking (Illinois sale-leaseback). Brennan uses industry-standard property management platforms (Building Engines, AppFolio) and has no proprietary technology, patents, or AI/ML capabilities disclosed.

The go-to-market combines direct enterprise field sales through the Corporate Real Estate Solutions platform with channel partnerships through brokers (including Colliers International) and capital partner relationships with institutional equity investors and debt providers such as Byline Bank and Nelnet. A distinctive feature of the operating model is an employee compensation structure that ties pay directly to investment proceeds, aligning team incentives with investor outcomes. Customer concentration is low given the 900+ tenant base across diverse industries, though individual build-to-suit deals (e.g., Tovala, Kitchen Food Company) and sale-leasebacks (e.g., CVG, Impact Networking) anchor multi-decade cash flow visibility.

Name

Brennan Investment Group

Legal name

Brennan Investment Group

Website

https://brennanllc.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Short description

Brennan Investment Group is a private industrial real estate investment firm that acquires, develops, and operates industrial properties across the United States, serving over 900 corporate and small-to-mid bay tenants through a co-investment model with private and institutional capital partners.

Ownership category

akta.pro rank

Product category

Industrial Real Estate Investment

NAICS

Other Financial Vehicles (525990), Miscellaneous Financial Investment Activities (523999)

SIC

Investors, Nec (6799), Real Estate Dealers (For Their Own Account) (6532), Real Estate Investment Trusts (6798)

akta.pro primary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

• Industrial real estate investment
• Build-to-suit development
• Sale-leaseback transactions
• Single tenant net lease
• Commercial property acquisitions

Headquarters

HQ city

Rosamond

HQ country

United States

HQ region

North America

Offices18 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Real Estate Investment Returns: Brennan generates returns primarily through appreciation in value of its industrial real estate portfolio, rental income from approximately 57 million square feet of industrial properties, and profits on disposition of assets. The firm maintains an average hold period of just over three years and has achieved a 39% average internal rate of return with a 2.16 equity multiple across sold assets.
2. Co-Investment Management Fees: Brennan co-invests with private and institutional capital partners, earning asset management and acquisition fees tied to investment performance. A unique employee compensation model ties pay directly to investment proceeds, aligning team incentives with investor returns.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

Brennan Investment Group is a private industrial real estate investment firm that acquires, develops, leases, and manages industrial properties across major U.S. metropolitan markets. The firm operates through several capabilities including land and development, build-to-suit development, single-tenant net lease, acquisitions, leasing, redevelopment, and corporate real estate solutions (sale-leasebacks). It co-invests with private and institutional capital partners and manages approximately 57 million square feet across 604 properties in 29 states with $6.5 billion in assets under management.

Product overview

Brennan Investment Group is an industrial real estate investment firm offering a comprehensive platform of property investment services. The company operates as a unified platform consisting of multiple service modules: Industrial Property Investment (core acquisition and operation of industrial assets), Build-to-Suit Development (custom facility development), Single Tenant Net Lease (long-term single-tenant properties), Acquisitions (property purchases across various industrial types), Corporate Real Estate Solutions (corporate occupier services including sale-leasebacks), and Redevelopment (property repositioning). The firm manages 604 properties totaling approximately 57 million square feet across 29 states with a 96.4% occupancy rate.

Differentiator

Problem solved

Functional benefit

Products and services

• Land & Development

Quantifiable outcome

• 39% average internal rate of return and 2.16x equity multiple across sold assets
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• ARCO/MurraycoreImplementation/ SI/ Consulting Partner · 27 April 2026ARCO/Murray serves as the design-build contractor for the 140,340 SF build-to-suit food processing facility for Tovala in Winfield, Illinois. ARCO/Murray brings construction expertise to execute the specialized facility development.
• Colliers InternationalminorChannel Partner/ Reseller/ Distributor · 12 February 2026Colliers International represented Tovala in the lease agreement for the 140,340 SF build-to-suit food processing facility in Winfield, Illinois. Jonathan Kohn of Colliers International represented Tovala in the transaction.
• Food Plant EngineeringcoreImplementation/ SI/ Consulting Partner · 14 November 2025Food Plant Engineering served as the design-build contractor for the 100,800 SF build-to-suit food processing facility for Kitchen Food Company in Hopkinsville, Kentucky. Food Plant Engineering is a design-build firm specializing in food industry projects.
• Kitchen Food CompanycoreStrategic or Co-development Partner · 13 November 2025Brennan is developing a 100,800 SF build-to-suit food processing facility in Hopkinsville, Kentucky for Australian-based Kitchen Food Company as part of its U.S. expansion. The facility will be operational in 2026 and is Brennan's third build-to-suit development in the food service sector.
• TovalacoreStrategic or Co-development PartnerLong-term lease agreement for a 140,340 SF build-to-suit food processing facility in Winfield, Illinois. Construction started March 2026, completion expected Q2 2027. This is Brennan's fourth build-to-suit development in the food service sector. Tovala is a meal delivery company that has delivered over 45 million chef-prepared meals.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• EastGroup Properties: Public REIT focused on shallow-bay industrial properties in Sun Belt markets — overlapping directly with several of Brennan's core geographies (Tampa, Atlanta, Houston, Dallas) and product types.
• Prologis: Largest publicly traded industrial REIT globally with ~1.7 billion SF under management after the Duke Realty and DCT Industrial mergers. Operates across the same industrial property types as Brennan but at vastly greater scale and with a global footprint.
• Duke Realty (Prologis): Pre-merger Duke Realty was a major public industrial REIT with bulk and medical office industrial across the US; now part of Prologis. Comparable in scale and product type to Brennan's national portfolio ambition.
• GLP (Global Logistic Properties): Global logistics real estate operator with significant US industrial presence. While internationally focused, GLP overlaps with Brennan in large-scale US industrial acquisition and development.
• Rexford Industrial Realty: Public REIT focused exclusively on infill Southern California industrial real estate — directly overlapping with Brennan's infill and shallow-bay strategy in one of Brennan's core geographies, though at significantly larger scale.
• Terreno Realty Corporation: Public REIT acquiring, owning, and operating industrial real estate in six major US coastal markets. Highly comparable product mix (infill industrial) and similar tenant focus, though structured as a public REIT rather than private co-investment vehicle.

Direct peers

• Dalfen Industrial: Private industrial investment firm focused on last-mile distribution and industrial outdoor storage (IOS) across major US markets. Highly comparable to Brennan's mid-bay and IOS strategy, with similar co-investor capital model and US-only footprint.
• Bridge Industrial: Private industrial real estate operator focused on Class A shallow-bay and bulk distribution facilities in core US logistics markets. Closely comparable to Brennan in product type, infill market focus, and institutional co-investment capital structure.
• Crow Holdings Industrial: Private industrial development and investment arm of Crow Holdings, operating a national build-to-suit and Class A bulk industrial platform. Comparable to Brennan in multi-market industrial focus, build-to-suit capability, and institutional capital partnerships.
• First Industrial Realty Trust: Public industrial REIT and the firm founded by Brennan's Chairman Michael Brennan before he started Brennan Investment Group. Operates a comparable shallow-bay and bulk industrial acquisition/development model across similar US markets, making it the closest direct comp in strategy and product.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/brennanllc
• Facebookfacebook.com/brennaninvestmentgroup
• LinkedInlinkedin.com/company/brennan-investment-group-llc
• Instagraminstagram.com/brennaninvestmentgroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Brennan Investment Group