Bethesda, MD, March 8, 2019 –
Phillips Realty Capital is proud to have worked with Brennan Investment Group to secure development financing for a new headquarters and cold storage distribution facility for Poultry Products Northeast in Londonderry, New Hampshire. Financing was arranged by John Sieber and William Lawson and provided by Camden National Bank, a Full-Service Community Bank headquartered in Camden, Maine. Brennan Investment Group recently issued a press release which can be read in its entirety on their website or below.
Brennan Investment Group, LLC, a private real estate investment firm that acquires, develops and operates industrial properties on a national basis, has announced plans to build and leaseback a new, state-of-the-art headquarters and freezer/cooler distribution facility for Poultry Products Northeast (“PPNE”) in Londonderry, New Hampshire. The site is located less than an hour from Boston with immediate access to I-93 and minutes away from the Manchester airport. PPNE, founded in 1959, is the largest independent food distribution company specializing in center-of-plate meat products in New England.
This build-to-suit project will comprise 105,000 square feet on nearly 26 acres and will significantly improve the company’s operating efficiency. The building is also designed for future expansion, which will allow PPNE to grow substantially over the longer term. Groundbreaking is scheduled during the first quarter of 2019. “We appreciate the opportunity to accommodate PPNE’s growth by delivering a first-class facility,” said Chris Massey, Managing Principal at Brennan Investment Group. “Our ability to find solutions that allow companies to grow supports our investment objective of producing stable, long-term cash flow for our investors.”
“The cold storage market has expanded considerably in recent years due to increasing demands for both fresh food products and e-commerce growth,” said Scott McKibben, Chief Investment Officer at Brennan Investment Group. “We will see a significant amount of new development as the freezer/cooler sector simultaneously modernizes and meets new customer requirements.”
Brennan’s development activities have increased significantly over the last several years with active build-to-suit and speculative projects underway in Chicago’s O’Hare market, Atlanta, Central Florida, Austin, Houston, Salt Lake City, and Denver. Active in major in-fill markets across the United States, Brennan sees long-term, stable demand from technology-enabled uses including e-commerce, robotics, automation, and data centers.
About Brennan Investment Group
Brennan Investment Group, a Chicago-based private real estate investment firm, acquires, develops, and operates industrial properties in select major metropolitan markets throughout the United States. Since 2010, Brennan Investment Group has acquired over $3 billion in industrial real estate. The company’s current portfolio spans 28 states and encompasses nearly 40 million square feet.
Brennan Investment Group co-invests with private and institutional capital to achieve outstanding risk-adjusted returns. The firm’s management team is among the most accomplished in its industry, having invested in over 4,000 properties covering more than 60 cities throughout the United States, Canada and Europe.
For more information on Brennan Investment Group, go to brennanllc.com.