Brennan Investment Group acquires Lehigh Valley 380,274 s/f 3-building industrial portfolio
Lehigh Valley, PA — Brennan Investment Group announced the acquisition of a three-building industrial portfolio, totaling 380,274 s/f located in the Lehigh Valley. The buildings are 100% leased to five tenants. The portfolio is located in the I-78/I-81 Industrial Corridor, one of the most sought-after locations in the Northeast for logistics having direct access to New York and Philadelphia. The portfolio is in close proximity to the new $335 million FedEx Ground hub which will be the largest FedEx facility in the U.S. The buildings are also adjacent to Lehigh Valley International Airport, where Amazon will build a new hub for consumer goods. The portfolio's location provides access to all major thoroughfares, including Rtes. 22 and 23, as well as I-78 and I-476. "The I-78/I-81 Industrial Corridor has strong fundamentals, with 1.6 million s/f of positive net absorption year-to-date and an occupancy rate of 94%," said Chris Massey, managing principal at Brennan Investment Group.