Brennan Investment Group Boosts Florida Expansion with Key Hire

Hillsboro Beach, Florida, USA - Brennan Investment Group, a prominent private real estate investment firm, has ramped up its Florida presence with the recent hiring of Berkley Bloodworth as Senior Associate. This strategic addition to the Florida team signifies the firm’s commitment to tapping into high-demand markets, specifically focusing on the dynamic regions of Palm Beach, Miami-Dade, and Broward counties. Bloodworth’s extensive experience and strong industry relationships are poised to enhance Brennan’s efforts in these bustling areas, particularly in the Miami, Fort Lauderdale, and West Palm Beach markets. As Robert Krueger, Managing Principal at Brennan Investment Group, noted, “Berkley’s market knowledge, investment expertise, and relationships will enhance our Florida expansion efforts” reports PR Newswire.

Bloodworth brings a wealth of knowledge from previous roles, including Vice President of Acquisitions at a private equity firm specializing in industrial properties across Southeast Florida. His diverse background also includes time at the Capital Markets Group of Avison Young and as an Analyst at Marcus & Millichap. With a Bachelor of Science degree in Finance and Real Estate from Florida State University, Berkley’s membership in ULI-Young Leaders and NAIOP underscores his commitment to the industry.

An Expanding Market Presence

The expansion aligns perfectly with Brennan’s broader strategy to deepen their footprint in high-conviction markets. Since its inception in 2010, the firm has acquired or developed an impressive $6.5 billion worth of industrial real estate, covering 29 states and roughly 57 million square feet of space. The firm operates out of 18 regional offices across the U.S. and has invested in over 5,000 properties in more than 60 cities across the U.S., Canada, and Europe, showcasing their robust investment approach.

Bruce Jacobs, the Controller at Brennan, adds a layer of expertise with vast knowledge across various property types, aiding in the operational and financial aspects of Brennan’s initiatives. His background includes senior roles at multiple prominent companies, emphasizing his ability to enhance financial performance and operational capacities states Brennan Investment Group’s official site.

Fort Lauderdale and Beyond

On the ground, industrial markets across Florida are thriving. In particular, Fort Lauderdale stands out with a low industrial vacancy rate compared to other similar-sized markets. With limited availability of developable land, construction activity faces significant constraints; however, annual rent gains in the area have exceeded a staggering 17% in early 2023. The industrial sector has demonstrated a notable growth trend, with rents now well over $19 per square foot highlights Matthews‘ market report.

The Tampa market is equally impressive, boasting a flourishing industrial sector driven by job and population growth. With a total of 212 million square feet of industrial space, the demand from retailers and e-commerce businesses has fueled significant rent growth and made the market particularly attractive for investors. Rent growth is forecasted to reach around 11% by the end of 2023, signaling that there’s a solid foundation for continued development and investment in the area.

Jacksonville, too, is reporting substantial growth owing to its robust demand and the strategic advantages it offers. With significant new industrial space coming into the market and rent growth surpassing the national average, the city remains a pivotal hub for industrial investment.

With leaders like Berkley Bloodworth joining the team, Brennan Investment Group seems well-equipped to navigate the promising waters of Florida’s industrial real estate landscape. The expertise being introduced, combined with the firm’s historical commitment to growth, spotlights an exciting future for investors and tenants alike.