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Brennan Investment Group LLC - a private real estate investment firm that acquires, develops, and operates industrial facilities - has acquired Landmark Plastic’s headquarters in Ohio. The building houses the sole manufacturing facility of Landmark Plastic, which is a leading manufacturer of thermoformed and injection moulded products for the horticultural industry.
Kevin Brennan, vice president of acquisitions at Brennan Investment Group, stated, “We are pleased to complete the acquisition of 1331 Kelly Avenue, located in the Southeast submarket of Cleveland. The Cleveland market has demonstrated strong fundamentals, evidenced by 14 consecutive quarters of positive net absorption year-to-date, and an overall occupancy of 94.3%.”
Robert Vanecko, Brennan Investment Group’s managing principal and the head of the firm’s single-tenant, net lease division, added, “The acquisition of the Landmark Plastic facility was funded through our $300,000,000 net leased joint venture with one of Arch Street Capital Advisors’ institutional clients. We are excited to add this property to our growing portfolio.”
