Real estate investment firm acquires vacant Sysco facility
Brennan Investment Group, LLC, a Rosemont, Ill.-based private real estate investment firm, purchased a 200,411-square-foot vacant industrial facility previously occupied by Sysco Foods, Houston, Texas. The facility, located in Round Rock, Texas, will be re-developed into a food processing facility.
The re-development project involves converting the building into food preparation space as well as other upgrades. The property is currently a Class B cold storage and distribution center, but will be converted into a Class A food processing facility upon completion.
“We are pleased to complete the acquisition, and enthusiastic about its future conversion into a state-of-the-art food grade facility,” says Troy MacMane, co-founder and managing principal of Brennan Investment Group.
“The Austin market has demonstrated strong fundamentals, evidenced by nearly 1.2 million square feet of positive net absorption year-to-date. This acquisition increases Brennan’s Texas region portfolio to 28 buildings, with an overall occupancy of 94.5%,” adds Kyle Harris, acquisition and development analyst at Brennan Investment Group.