Brennan Investment Group scooped up a 13-unit industrial portfolio made up of properties across the Chicago area and Milwaukee.
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The 802K SF portfolio features shallow-bay industrial properties with an average building size of 62K SF and a weighted average lease term of more than four years, according to a news release.
The Chicago-area properties are in submarkets including I-55, Lake County, northern DuPage and central Kane/I-88, while the Milwaukee properties are in Milwaukee's airport and northwest submarkets.
"The portfolio's geographic diversity provides a strategic complement to the shallow bay product we currently own and manage in the Midwest," Brennan Investment Group Managing Principal Jack Brennan said in a statement.
Brennan Investment Group couldn’t be reached immediately for comment on the purchase price or the portfolio seller.
At a November Bisnow industrial event, Brennan said the company was active in the small-bay space in 2025, focusing on assets in proven locations that can attract a wide range of users.
"We like the stickiness of those tenants, and also, just historically, they've retained their occupancy much better than some of our larger units," Brennan said.
Leasing activity for Brennan Investment Group was strong as of November, he added. The company began 2025 with about 2.1M SF of vacant spec space across the Midwest. By November, 75% of that space had been leased on a long-term basis, with an additional 15% occupied on a month-to-month basis.
Brennan said in November that his biggest takeaway from 2025 was that the Chicago industrial market is improving. The company planned to buy more multitenant, small-bay portfolios in 2026 and is already making moves in January.
"There's definitely light at the end of the tunnel," Brennan said.
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