THE NEW INDUSTRIAL PLAYERS

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.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Baltimore Newsletters
Related Stories

CBRE IM Buys Net Lease REIT For $1.6B, Plans More Investment

Beyond The Boom: How Miami's CRE Market Continues To Be Resilient

Sixers And Flyers Unveil Renderings Of South Philly Arena Due In 2030

The Opportunities, Limitations And Benefits Of Reserved Investor Funds

After 5 Years Of Gains, Commercial Real Estate's C-Suites Just Got Less Diverse

£1B Property Group To Buy Huge Chunk Of Collapsed NCP Car Park Empire

1,300 Projects Potentially Paused Due To Suspension Of Quality Inspectors

Walker & Dunlop On Why The Housing Market Is More Balanced Than It Appears

California Duo's Ponzi-Like Investment Scheme Unravels With Bankruptcy, SEC Charges

Prominent Philly Caterer Sues Town Officials Over Vineyard Plans In Bucks County

Houston Firm Hires Former Floor & Decor Exec As President Of New Offering

Deutsche Finance Alleges BVK Is Responsible For CRE Portfolio Losing $1B In New Lawsuit