Brennan Investment Group has acquired a 13-property shallow-bay industrial portfolio totaling 801,728 square feet across the Chicagoland and Milwaukee markets, extending the Chicago-based firm’s footprint in a segment seeing sustained demand from small and mid-sized tenants.
The portfolio spans multiple Chicago submarkets— including I-55, Lake County, Northern DuPage, and Central Kane/I-88—along with assets in Milwaukee’s Airport and Northwest submarkets. Brennan said the buildings have a diverse tenant roster and a weighted average lease term of more than four years.
Executives framed the deal as both a scale and diversification play in a part of the industrial market where vacancy is often supported by local infill locations and smaller-format space needs. The acquired buildings average roughly 62,000 square feet, placing them squarely in the shallow-bay category that has remained attractive to users seeking flexible distribution, service, and light industrial configurations.
“This acquisition adds diversification to Brennan’s growing portfolio and bolsters our presence within key submarkets,” Dan Smith, senior vice president for Brennan’s Chicago region, said, adding that the larger footprint supports the firm’s continued pursuit of one-off acquisitions of functional industrial properties.
Managing Principal Jack Brennan said the geographic mix across Illinois and Wisconsin complements the firm’s existing shallow-bay holdings and aligns with its acquisition strategy for 2026, focused on infill submarkets throughout the Midwest.
Brennan said it plans to integrate the portfolio into its broader Midwest holdings, which total about 28 million square feet. The firm, founded in 2010, said it has acquired or developed $6.5 billion in industrial real estate across 30 states and currently operates a portfolio spanning approximately 60 million square feet in 29 states.
KEY QUOTES:
“This acquisition adds diversification to Brennan’s growing portfolio and bolsters our presence within key submarkets. Our increased footprint allows us to continue our pursuit of one-off acquisitions of well-located, functional industrial product.”
Dan Smith, Senior Vice President, Chicago Region, Brennan Investment Group
“The portfolio’s geographic diversity provides a strategic complement to the shallow bay product we currently own and manage in the Midwest. We are eager to continue acquiring shallow bay assets throughout the Midwest in 2026 that are located in strong in-fill submarkets.”
Jack Brennan, Managing Principal, Brennan Investment Group
