Brennan Investment Group Acquires 136,744-Square-Foot Fully Leased Industrial Property in Denver

Brennan Investment Group has acquired a 136,744-square-foot industrial property at 5050 Ironton St. in Denver, Colorado, the Chicago-based firm announced Sept. 22. The fully leased asset, located within Montbello Industrial Park in Denver's Northeast Industrial submarket, expands Brennan's presence in a market where functional, income-producing industrial properties are increasingly difficult to replicate.

Property Details and Location

The concrete and masonry building sits on 8.78 acres approximately three-quarters of a mile from the Havana Street interchange at Interstate 70, providing access to the Denver metropolitan area and regional transportation corridors. Originally constructed in 1970, the facility features clear heights ranging from 18 to 26 feet, 13 dock-high doors, four drive-in doors, potential rail service, heavy industrial zoning, and excess acreage that supports secure outdoor storage.

The building can accommodate either a single tenant or a two-tenant configuration, giving Brennan leasing flexibility at future rollover. The property is fully leased to a building products distributor that has occupied the facility since the early 2000s and has made a significant investment in the space.

What Executives Said

Brian Roach, Managing Principal for the Mountain West region at Brennan Investment Group, cited the property's combination of physical attributes as central to the acquisition rationale.

"5050 Ironton is a highly functional industrial property with several characteristics that are increasingly difficult to replicate in the Denver market, including secure outside storage, flexible loading and heavy industrial zoning," Roach said. "The tenant's long history at the property further demonstrates the functionality of the facility and its ability to support industrial users over the long term."

Kevin Brennan, Chief Investment Officer at Brennan Investment Group, pointed to the submarket's fundamentals and the asset's infill positioning as key factors.

"This acquisition reflects our strategy of acquiring well-located industrial assets where strong underlying fundamentals and multiple paths to value creation provide an attractive investment opportunity," Kevin Brennan said. "The depth of the Northeast Denver industrial market, combined with the property's infill location, functionality and long-term leasing flexibility, made this a compelling addition to our portfolio."

Denver Industrial Market Context

The acquisition comes as Denver's industrial market navigates a period of elevated vacancy. Industrial vacancy in the Denver market ranged from approximately 8.3% to 9.3% in the second quarter of 2026, depending on the data source and methodology, with some brokerages describing current availability as the highest in more than two decades.

Despite elevated vacancy, market data pointed to improving absorption. One market report recorded 2.23 million square feet of second-quarter net absorption, average asking rents of $11.65 per square foot triple-net, average sale pricing of $169 per square foot, and an average industrial cap rate of 7.7%. A separate report tracked more conservative second-quarter absorption of approximately 55,000 square feet but noted rolling four-quarter absorption of 3.1 million square feet, above the 2.5 million square feet recorded a year earlier.

Supply pressure remains a factor. Denver's industrial pipeline includes 15 buildings totaling 3.5 million square feet under construction, with approximately 2.9 million square feet scheduled for delivery during the remainder of 2026. Against that backdrop, fully leased older assets with functional attributes can offer current cash flow without the lease-up risk associated with speculative development.

Brennan's Denver Strategy and Broader Platform

The 5050 Ironton acquisition is Brennan's second in Montbello Industrial Park in 2026. Earlier in the year, the firm acquired a 64,000-square-foot industrial property at 4881 Ironton St., also within the park, which was vacant at the time of purchase and targeted for repositioning through capital improvements and lease-up. Taken together, the two transactions reflect a strategy combining value-add lease-up opportunities with fully leased, cash-flowing industrial assets in a concentrated Denver location.

Brennan Investment Group has acquired or developed approximately $8 billion of industrial real estate since its founding in 2010, across 30 states, and currently owns or operates approximately 58 million square feet. The firm maintains 18 regional offices throughout the United States, and its management team has invested in more than 5,000 properties across more than 60 cities in the United States, Canada, and Europe.

Sources

Brennan Investment Group press release via PR Newswire, Sept. 22, 2026