Chicago Developer Targets NKY for New Spec Building
A Chicago-based real estate company purchased nearly 50 acres of land in Northern Kentucky to build a speculative industrial building.
Brennan Investment Group, a private real estate investment firm that acquires, develops and operates industrial properties, purchased more than 48.6 acres of land along Dixie Highway in Walton from Walton Farm LLC for nearly $2.9 million. There, Brennan plans to develop a state-of-the-art, modern, cross-dock distribution building totaling 575,000 square feet.
Doug Lance, vice president with Brennan Investment Group, said the as-of-yet unnamed facility will be built speculatively, meaning there are no signed tenants for the space at this point. However, he said the area south of Cincinnati/Northern Kentucky International Airport and along Interstate 75 is an ideal location for logistics and distribution companies.
“There is so much activity,” Lance told me. “The absorption rate has been at record levels the past few years.”
Project Team
Owner: Brennan Investment Group
Builder: Paul Hemmer Cos.
Architect: ATA Beilharz Architects
Civil Engineering: The Kleingers Group