THE NEW INDUSTRIAL PLAYERS
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|Mid-Atlantic mainstay Manekin's investment services group will act as Chicago-based industrial firm Brennan Investment Group's de facto regional office. Manekin also has some skin in the game, though how much isn't clear. (A Chicago story that has a few secrets? Who would've thunk?)|
|It's been 90 days since former First Industrial CEO Mike Brennan's new firm and Manekin got together. Manekin's John Graham and Owen Rouse (above) told us yesterday they're about to go to contract on their first deal, and announcements could start rolling out in two weeks. John, who was DC regional director for First Industrial under Mike, says they're accepting the terms on an LOI today. Their area covers Central PA, Southern NJ, Delaware, Maryland, DC, and Virginia. They've already looked at 25 properties, put out offers on 10, and are actively pursuing three. The group will consider stabilized, value-add, and opportunistic stock (the last two offer the best returns) for $7M and higher (and there are always exceptions). The forecast hold period is three to five years.|