Nuveen buys Lakeland building from Brennan

TIAA affiliate’s $41.2 million purchase marks the latest disposition of spec-developed asset in the Interstate 4 Corridor by Illinois developer

  • By Kevin McQuaid
  • | 6:00 a.m. September 18, 2020
  • | 0 Free Articles Remaining!
COURTESY RENDERING -- Nuveen Real Estate, an affiliate of investment firm TIAA_CREF, spent more than $41 million to acquire a Lakeland distribution center from Brennan Investment Group.
COURTESY RENDERING -- Nuveen Real Estate, an affiliate of investment firm TIAA_CREF, spent more than $41 million to acquire a Lakeland distribution center from Brennan Investment Group.
  • Commercial Real Estate
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For the second time in the past three years, Chicago-based Brennan Investment Group and a partner have sold a major industrial asset in Lakeland fully occupied by PepsiCo.

In the most recent of the pair of deals, Teachers Insurance and Annuity Association affiliate Nuveen Real Estate last month acquired a 440,000-square-foot building in the developer’s CenterState Logistics Park West for $41.2 million.

 

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